Sample Essay
Fiscal policy is a tool that defines government involvement in the economic setup of a nation. It basically involves government spending and the revenue earned through taxation. Fiscal policy is generally defined by a budget which is given at the beginning of a financial year in most countries.
The Asian economy consists of three major giants, Indian, Chinese and Japanese. The Japanese government has always spend less then governments of other developed economies, however since the financial crisis in the 1990’s Japanese have always looked to further reduce their fiscal deficit. India struggles with a high budget, but with less spending on factors like health and education. This is true for many counties in Asia, who are struggling with high budget deficits but are still unable to provide basic amenities to their people. Proper tax collection also remains an issue. China’s fiscal policy reflects its strong communist background.
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