Answer / jyothsna banoth

The adjustable rate of government policy which influences
the changes like tax, welfare payment and government
spendings in the economy through budget is called Fiscal
Policy.

An equipment installed by the state/government/ruler to
take revenue in the form of taxes, dues and so on ...in
order to control the expenditure is called Fiscal System.

Answer / oziwele

fiscal system is an arrangement or institutional framework which exist in a society for making budgetary decision of raising revenue incurring expenditure and engaging in debt
while
fiscal policy is taken to refer to the part of government policy concern the raising of revenue through taxation and other means and deciding on the level and pattern of expenditure for the purpose of influencing economic activities or obtaining some desirable micro economic goals.

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