FISCAL POLICY and EMI IN ECONOMY

Fiscal Policy 
When governments decide upon their spending and taxation policies for an upcoming period, it has a significant impact on the country’s economic performance and on us as individuals. It affects our aggregate demands for goods and services, employment, inflation and long-term economic growth.
The term ‘fiscal policy’ refers to this use of government spending and taxation, and its impacts on the economy. 

In economic terms, there are two main types:
Expansionary fiscal policy : Designed to boost the economy, it is commonly used in times of high unemployment and recession. Governments tend to lower taxes and increase spending, with the aim to stimulate the economy and ensure consumers' purchasing power does not weaken. 

Contractionary fiscal policy : As the name suggests, this type of policy is designed to shrink economic growth in case of high inflation. To achieve this, governments tend to increase taxes and reduce their spending.



What is an EMI ?
EMI, which stands for Equated Monthly Installment, refers to a predetermined fixed payment that borrowers make to lenders on a specific date each month. This regular installment includes both the principal amount and the interest, allowing borrowers to gradually repay their loans over a set period. EMIs provide a structured repayment plan and are commonly used in various types of loans, such as home loans, car loans, and personal loans.



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