• Dr. Ajab Singh

Abstract: This study critically analyzes the current fiscal policy of India, evaluating its objectives, strategies, and challenges. Fiscal policy is a key tool used by the government to manage public revenue and expenditure, aiming to stabilize the economy, control inflation, and foster growth. Over the years, India’s fiscal policy has undergone significant reforms, including the introduction of the Goods and Services Tax (GST) and the establishment of fiscal responsibility legislation. However, challenges such as rising fiscal deficits, tax compliance issues, and inefficient public expenditure persist. The research assesses the impact of fiscal policy on key sectors like healthcare, infrastructure, and education, examining the effectiveness of budgetary allocations and reforms in achieving long-term socio-economic development. A mixed-method approach, combining secondary data analysis with qualitative interviews, is used to evaluate the policy's impact. The findings suggest that while there has been progress in terms of fiscal consolidation and growth stimulation, systemic inefficiencies and external economic pressures pose challenges to the sustainability of fiscal policy. The study offers recommendations to enhance the transparency, efficiency, and inclusivity of India’s fiscal strategy.

Keywords: Fiscal policy, economic growth, inflation, fiscal deficit, GST, public expenditure, tax compliance, infrastructure, healthcare, education, fiscal consolidation, socio-economic development, sustainable development.

"Current Fiscal Policy in India- Critical Study and Evaluation", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 3, page no.d110-d121, March-2025, Available :http://www.jetir.org/papers/JETIR2503314.pdf

"Current Fiscal Policy in India- Critical Study and Evaluation", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 3, page no. ppd110-d121, March-2025, Available at : http://www.jetir.org/papers/JETIR2503314.pdf