what is fiscal discipline and what happened if not maintained ?

Thumbs up to Utkarsh for the answer . However, in response to second part of your answer, if fiscal is not maintained it leads to a situation of fiscal deficit. Fiscal deficit implies higher borrowing requirements of the government. Higher borrowings can have serious implications for the government of a country. The main source of borrowings for a country is the central bank (RBI in case of India) from which the government borrows in the form of deficit financing (i.e. printing of new currency notes). However, deficit financing increases the circulation of money in the economy and thereby, causes inflation.

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Fiscal discipline refers that govt. should create a balance in their expenditures and revenue..

like,at the time of fiscal deficit govt. should not only think of ,how to increase their earnings, but they should think upon how to reduce their expenditures.

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