Evaluate the fiscal reforms introduced under the NEP

Dear student,

The following fiscal reforms were introduced under New Economic policy to solve the problem of fiscal deficit, i.e. excess of spending over income.
* The rates of individual and corporate tax has been reduced, to stop people from tax evasion practices. Efforts has been made to bring more people under tax net.
* Tax procedure has been simplified, simplified forms for tax filing has been introduced.
* Import duties has been reduced.

Even after all such reforms the problem of fiscal deficit has not been fully solved.


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