Page 266 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ pwsy qo iksy Xojxw qo ibnw ArQivvSQw dy iv`c ckirAw aqwr-cFwvW dI pRiqikirAW iv`c Krco Aqy krW dw
Apxy Awp smXojn hoxw[ ies ivvSQw dy iv`ckwl bjt iv`c Apxy-Awp bdlwv huMdw hY, iesleI iesƒ Awpxy
Awp clx vwlI siQrIkrx dI qknIk vI ikhw jw skdw hY[ ivivD Awpxy Awp clx vwlI (automatic)
siQrIkrx ieh hn – ingimq lwB kr, Awmdn kr, aqpwdn kr, buFwpw (survivors) Aqy byrojgwrI bImw
Aqy byrojgwrI rwhq Bugqwn[ svcwilq siQrIkrx dy SwDnW dy rup iv`c kr Aqy Krc rwStrI Awmdn nwl
sMbD hY[ kr-drW dw Apirviqq FWcw idqw hox qy, kr pRwpiqAW, rwStrI Awmdn iv`c giqAW dy nwl,
is`Dy qor qy bdlwv krdI hY, jdik srkwrI Krc rwStrI Awmdn iv`c bdlwv dy nwl ault qor qy bdlwdy
hn[vpwr ckr dI ADogwmI AvsQw (downward phase) iv`c jd rwStrI Awmdn ifgdI hY qW kr, jyVy
rwStrI Awmdn dI pRiqSqqw qy AwDwirq hn, Awpxy Awp G`t jWdy hn Aqy pirxwmsvrup kr-Awmdn G`t
ho jWdI hY[ iehdy nwl, byrojgwrI rwhq Aqy swmwijk sur`iKAW ihqW qy srkwrI Krc Apxy Awp v`D jWdw hY[
bjt iv`c Awpxy Awp G`wtw hovygw, jyVw AvsPIiqkwrI pRiviriqAW dI rokQwm krygw[ dUjy pwsy, vpwirk-
ckr dI aDrgwmI AvsQw (upward phase) iv`c jd rwStrI Awmdn qyjI nwl v`DdI hY, qW kr drW iv`c
viviD dr hox nwl kr-pRwpiq Awpxy Awp v`D jwvygI[ nwl hI byrojgwrI rwhq Aqy swmijk sur`iKAW ihqW
qy srkwrI Krc Apxy Awp G`t jwxgy[ ieh dovy SkiqAW Awpxy Awp bcq dw bjt inrimq krygI Aqy ies
qrW sPIiqkwrI pRiviriqAW Awpxy Awp inXMqirq ho jwvygI[
lwB (Merits)

rwjkoSIX apwey dy rup iv`c AiBXNqirk siQrIkwrkW dy keI lwB hn[pihly, jdoN injI kRyA- SkqI igrdI
hY qW AiBXMqr siQrk asdy leI gddy dw kMMm krdy hn Aqy AsPIiqkwrI AviD dy dorwn lokW dIAW muSiklW
nUM G`t krdy hn[ dujw, auh rwStr Awmdn Aqy apBog Krc nUM incly p~Dr qy ifg`x qoN rokdy hn[qIjw,
ies apwv ivc bjtIX bdlwv svcwilq huMdy rihMdy hn Aqy pRSwsink inrxy lYx ivc dyr nhI huMdI[ coQw,
rwjkoSIAw apwvW dy glq pUrvwnumwn Aqy smyN dI gliqAW nUM svcwilq siQrk nXuMqm bxw idMdy hn[ AMiqm,
auh AlpkwlIn Aqy lMbsmyN rwjkoSIX nIiqAW dw iek~T krdy hn[

sImWvW (Limitations)
pr svcwilq SiqpUrk apwv dy rUp ivc AiBXMqirk siQrIkwrk dI pRBwvSIlqw kr-pRwpiqAW dI loc, krW
dy pD`r Aqy swvrjink KricAW dy lcIlypn qy inrBr krdI hY[ kr- pRwpiqAW dI loc ijMnI v`D hovygI,
sPIiqkwrI Aqy AsPIiqkwrI pRvriqAW nUM inXMqirq krn ivc svcwilq siQrk auny hI v`D pRBwvSwlI hoxgy[
pr kr-pRwpiqAw dI loc ienI v`D nhIN huMdI ik AmrIkw ijhy an`q dySW ivc vI ieh svcwilq siQrk dw
kMm kr skx[ dujw, jdoN krW dw p~Dr nIcw ho jWdw hovy qW ADogiq (downswing) dy dorwn svcwilq siQrk
dy rUp ivc kr- pRwpiqAW dI aucI loc vI bhuq mh`qv nhIN rKdI[ qIjw, AiBXMqirk siQrIkwrk kr dyx
dy bwAd, vpwr-Awmdn siQrkW dy hor vpwr-pRiqXwSwvW qy apBog Krc dy dujy pRBwvW qy nhI ivcwr krdy
hn[ coQw, ieh apwv sQwnIX inkwXoN, rwj srkWrW Aqy ArQivvsQw dy injI Kyqr dy siQrIkrx pRBwv dy
sMbMD ivc mon rihMdI hY[ pMjvW, auh vpwr- ckrW nUm smwpq nhIN kr skdy hn[ auh kyvl ahnW dI agrqw
nUM G`t kr skdy hn[CyvW,auhnW dy susqI dy punruqQwn (recovery) dy dorwn pRBwv AnukUl nhIN huMdy hn ies
leI ArQSwsqirAW ny suJwA id`qw hY ik rwjkoSIX nIiq dI svinrxXwqmk rwjkoSIX nIiq qoN AwiBAMqirk
siQrkW nUM AnupUriq kIqI jwvy[

3. svinrxXwqmk rwjkoSOX nIqI (Discretionary Fiscal Policy)
svinrxXwqmk rwjkoSOX nIqI dy leI bjt ivc AYsy kMmW rwhIN AYsy soc-smJky bdlwv ilAwaux dI jrUrq
huMdI hY ijvyN kr-drW Aqy srkwrI-Krc Aqy dovW ivc bdlwv krnw[ ieh Awm qor qy iqMn rUp lYNdw hY[
(1) krW ivc bdlwv, jdik Krc siQr rihMdw hY; (2) Krc ivc bdlwv, jdik kr siQr rihMdy hn;
(3) Krc Aqy kr dovW ivc ieko vwr bdlwv [
pihlw, jdoN krW ivc ktoqI kIqI jWdI hY jdik srkwrI Krc ivc koeI bdlwv nhI kIqw jWdw, qW ies vpwirk

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