A significant contribution to the management of economic crises and the maintenance of macroeconomic stability is made by fiscal policy. India's budgetary reactions to two large worldwide economic disruptions-the global financial crisis of 2008 and the COVID-19 pandemic-are the subject of this article, which provides a critical analysis of those measures. This article investigates the development of fiscal strategies, the implementation of those strategies, and the impact those tactics have had on fiscal deficits, public debt, and economic recovery. During the financial crisis that occurred in 2008, India implemented countercyclical measures, which included reductions in taxes, investments in infrastructure, and sector-specific incentives, with the goal of increasing demand and preventing further economic downturn. In a similar manner, during the COVID-19 epidemic, fiscal policies concentrated on expenditure on healthcare, social programs, and liquidity support in order to address difficulties related to public health and the economy.

In addition to highlighting the benefits and limits of these measures, the research also emphasises the necessity of adopting flexible fiscal frameworks in order to strike a balance between short-term obligations and long-term sustainability. Among the most important realisations is the significance of constructing fiscal buffers, embracing fiscal rules that are flexible, and increasing transparency in order to strengthen fiscal governance. In addition to this, the article emphasises the significance of institutional structures, such as independent fiscal councils, in the process of monitoring and directing fiscal policy. Taking into account the lessons that have been learnt from India's experiences, proposals for improving fiscal frameworks in order to better manage future economic shocks have been provided.