What is fiscal consolidation? (Answer limit: 15 words, Marks 02) [RPSC 2023]
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Fiscal consolidation refers to policies aimed at reducing budget deficits and stabilizing public debt.
Fiscal consolidation refers to policies implemented by national and sub-national governments to reduce debt accumulation and minimize deficits.
Fiscal consolidation is about reforms in revenues and reforms in expenditure. There is an innate time delay between decisions and their full impact upon the revenue deficit.