Phase IFoundation
Background
Overview
UPSC examines government's fiscal management, responses to economic challenges, and the socio-economic impact of such policies. Austerity measures are a critical tool in fiscal policy with significant implications for public welfare and economic growth.
Austerity measures refer to policies implemented by governments to reduce budget deficits and public debt, typically through a combination of spending cuts, tax increases, or a reduction in public services. These measures are often adopted during economic crises or periods of high fiscal stress to restore macroeconomic stability.