Economic policy refers to the deliberate actions taken by a government or official authority to influence its economy. This encompasses a wide range of strategies aimed at managing economic performance, including monetary policy, fiscal policy, and regulatory measures.
Monetary policy involves managing the money supply and interest rates to control inflation and stabilize the currency, typically executed by a country’s central bank. Fiscal policy pertains to government spending and taxation decisions, which are used to stimulate or slow down economic activity.
Economic policy also includes regulatory policies that govern business operations and protect consumers, the environment, and worker rights. These policies aim to create a conducive environment for economic growth, fair competition, and overall economic stability.
By implementing various economic policies, governments aim to achieve goals such as economic growth, low unemployment, price stability, and equitable distribution of wealth. These policies are often influenced by political ideologies, economic theories, and the current economic context, making economic policy a dynamic and complex aspect of governance.
As February 1 approaches, India's fintech leaders are eagerly anticipating the Union Budget for the financial year 2025-26, hoping for initiatives that will elevate their industry and support underserved communities.…