Page 285 - DECO402_MACROECONOMIC_THEORY_HINDI

bdkbZµ27% ekSfnzd uhfr

3- jktdks"kh; uhfr osQ vkStkj (Instruments of Fiscal Policy) uksV

ljdkjh O;; rFkk djkèkku esa ifjorZu osQ ekè;e ls jktdks"kh; uhfr izcy:i ls jk"Vªh; vk;] jkstxkj] mRiknu
rFkk dherksa dks izHkkfor djrh gSA eanh osQ nkSjku lkoZtfud O;; esa o`f¼ oLrqvksa rFkk lsokvksa osQ fy, oqQy
ek¡x dks c<+krh gS vkSj xq.kd izfØ;k osQ ekxZ ls vk; esa cM+h o`f¼ djrh gS] tcfd djksa esa deh dk izHkko
;g gksrk gS fd iz;ksT; vk; c<+rh gS ftlosQ ifj.kkeLo:i yksxksa osQ miHkksx rFkk fuos'k O;; c<+ tkrs gSaA nwljh
vksj] LiQhfr osQ nkSjku lkoZtfud O;; esa gksus okyh deh oqQy ek¡x] jk"Vªh; vk;] jkstxkj] mRiknu rFkk dherksa
dks ?kVk nsrh gS] tcfd djksa esa o`f¼ iz;ksT; (disposable) vk; dks ?kVkrh gS vkSj ifj.kkeLo:i miHkksx rFkk
fuos'k O;;ksa dks de dj nsrh gSA bl izdkj O;; rFkk djkèkku dk;ZØeksa osQ ;qfDr;qDr la;ksx }kjk ljdkj
vFkZO;oLFkk esa voLiQhfrdkjh rFkk LiQhfrdkjh nckoksa dks fu;af=kr dj ldrh gSA vc ge jkstdks"kh; uhfr osQ
fofoèk lkèkuksa dh ppkZ djsaxsA

1- ctV uhfr (Budgetary Policy)µizfr&pØh; jktdks"kh; uhfr (Contra-cyclical Fiscal Policy)

ctV jktdks"kh; uhfr dk ,d izeq[k lkèku gSA ctV uhfr ljdkj dh izkfIr;ksa rFkk O;;ksa osQ ifjek.k rFkk lacaèk
ij fu;a=k.k djrh gSA ge vkxs mu lkekU; ctV uhfr;ksa dh ppkZ djrs gSa] tks vFkZO;oLFkk dks fLFkj cukus osQ
fy, viukbZ tk ldrh gSaµ
(i) ctV ?kkVk (Budget Deficit)µeanh esa jktdks"kh; uhfr (Fiscal
Policy under Depression)µ?kkVs dk ctV eanh ij dkcw ikus dk
45°
egÙoiw.kZ mik; gSA tc ljdkjh O;; mldh izkfIr;ksa ls c<+ tkrk gS rks E 1 C + I + G'
Expenditure E A
jk"Vªh; vk; dh èkkjk esa muls vfèkd ek=kk,¡ Mkyh tkrh gSa ftruh fd B C + I + G
mlls fudkyh tkrh gSaA ?kkVk ljdkj osQ 'kq¼ (net) O;; dks O;Dr djrk G C
gS] tks jk"Vªh; vk; dks 'kq¼ O;; dk xq.kd xq.kk (multiplier times)
c<+krh gSA ;fn MPC2/3 gS rks xq.kd 3 gksxk vkSj ;fn ljdkjh O;; esa
100 djksM+ #- dh 'kq¼ o`f¼ gksrh gS] rks og jk"Vªh; vk; dks c<+kdj O Y Y 1
Income
300 djksM+ #- (100 × 3) ij igq¡pk nsxhA bl izdkj ctV&?kkVk oqQy fp=k 27-2
ek¡x ij foLrkjd izHkko (expansionary effect) Mkyrk gS] Hkys gh
jktdks"kh; izfØ;k ls lhekar izo`fÙk;k¡ vifjo£rr vFkok iz;ksT; izkfIr;ksa dk iqu£orj.k gksA ctV dk foLrkjd
izHkko fp=k 27-1 esa vkjs[kh; :i ls fn[kk;k x;k gSA C miHkksx iQyu gSA C + I + G, ctV izLrqr djus ls igys
miHkksx] fuos'k rFkk ljdkjh O;; (oqQy O;; iQyu) dks O;Dr djrk gSA eku yhft, fd vFkZO;oLFkk esa
ljdkjh O;; G c<+k;k tkrk gSA ifj.kkeLo:i oqQy O;; iQyu Åij dh vksj ljd dj C + I + G' ij igq¡p
tkrk gSA vk; OY ls c<+dj OY gks tkrh gS] tcfd larqyu fLFkfr E ls E ij pyh tkrh gSA ljdkjh O;;
1 1
esa o`f¼ E B (= D G) dh vis{kk vk; esa o`f¼ YY + EA = E A vfèkd gS BA (E A – E B) miHkksx esa o`f¼
1 1 1 1 1
dks O;Dr djrk gSA bl izdkj ctV ?kkVk ges'kk foLrkjd gksrk gS D;ksafd okLrfod ljdkjh O;; dks ek=kk dh
vis{kk jk"Vªh; vk; esa vfèkd o`f¼ gksrh gSA ctV ?kkVs osQ bl rjhosQ esa djksa dks T;ksa&dk&R;ksa j[kk tkrk gSA

ctV ?kkVk djksa esa deh djosQ vkSj fcuk ljdkjh O;; esa deh fd, Hkh izkIr fd;k tk ldrk gSA djksa esa deh
yksxksa osQ gkFkksa esa vis{kkÑr vfèkd iz;ksT; vk; NksM+ nsrh gS vkSj bl izdkj c<+s gq, miHkksx O;; dks izsfjr djrh
gSA blosQ ifj.kkeLo:i vkxs oqQy ek¡x] mRiknu vk; rFkk jkstxkj esa o`f¼ djrh gSA bls fp=k 27-2 esa Li"V
fd;k x;k gS] tgk¡ C ewy miHkksx iQyu gSA eku yhft, fd dj esa ET ek=kk ?kVk nh tkrh gSA blls miHkksx
iQyu Åij dh vksj ljd C' ij igq¡p tk,xk vkSj OY ls c<+dj vk; OY gks tk,xhA
1
ij] djksa esa deh c<+s gq, miHkksx O;; osQ ekxZ ls cgqr foLrkjd ugha gksrh] D;ksafd gks ldrk gS fd dj&jkgr

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