Finance Commissions and Fiscal Federalism in India

Finance Commissions and Fiscal Federalism in India by M. M. Sury Download PDF EPUB FB2

Likening fiscal federalism to a game between the Union and the States, and among the States themselves, Indian Fiscal Federalism lays bare the complex rules of play. It examines the pivotal role of Finance Commissions and assesses momentous events sincesuch as the replacement of the Planning Commission by NITI Aayog, the emergence of the GST Council, and the controversies.

"Overall, this book is a very significant addition to the area of Indian fiscal policy and is very timely. There is no doubt that this book will become one major reference to the literature on fiscal federalism not only in India but also at the international level." -- /5(12).

The Government of India Act and formalized the tenet of fiscal federalism and revenue sharing between the Centre and the states, aimed at enhancing political, economic and administrative efficiency, and granting increased autonomy to the provinces of India. Overall, this book is a very significant addition to the area of Indian fiscal policy and is very timely.

There is no doubt that this book will become one major reference to the literature on fiscal federalism not only in India but also at the international level. (N.R. Bhanumurthy, Indian Economic Review) It /5(14). Indian Fiscal Federalism at the Crossroads: Some Reflections A google search for “Indian Fiscal Federalism” shows million results.

The top hit among these results was the recent book on the topic written by Y V Reddy and G R Reddy. Recent “murmurings” that are happening in our country about fiscal federalism as listed.

The book delves deep into the significance of history of Indian fiscal federalism in understanding contemporary debates, something that is rare in India. The state of cooperative federalism in India is analysed by focusing on the trends in vertical fiscal imbalances between the centre and the states, the impact of Fiscal Responsibility and Budget Management acts on the fiscal space of the states, the implications of the Terms of Reference of the Fifteenth Finance Commission, and the need for empowering local governments in the context of.

Fiscal Federalism in India: Impact of Union Transfers on State Finances [Pratibha Agarwal] on *FREE* shipping on qualifying offers. Fiscal federalism deals with financial arrangements and their working in a federal polity. In India, federalism is not only a unifying forceAuthor: Pratibha Agarwal.

Second, Das spoke about the need to constitute state finance commissions every five years and make arrangements for their robust functioning. Third, Das said cooperative federalism among states must be fostered, with the sacrifice of some degree of fiscal autonomy to be seen as a trade-off for the larger picture.

Reserve Bank of India governor Shaktikanta Das called for a permanent status to Finance Commission and a robust expenditure planning without compromising on fiscal consolidation as fiscal federalism gathers momentum in the era of uniform goods and services tax ().Das who is also a member of the 15th finance commission said there is a need to ensure consistencies between finance Author: Joel Rebello.

Description. Likening fiscal federalism to a game between the Union and the States, and among the States themselves, Indian Fiscal Federalism lays bare the complex rules of play.

It examines the pivotal role of Finance Commissions and assesses momentous events sincesuch as the replacement of the Planning Commission by NITI Aayog, the emergence of the GST Council, and the controversies.

Practice of fiscal federalism in India M. Sreenivasa Murthy The authors take the position that the Finance Commissions should, as a general principle, provide for.

The 14 Finance Commissions in post-colonial India and the life arc of the Planning Commission are discussed in detail. Indian Fiscal Federalism; Y.V.

In India, federalism is not only a unifying but also a levelling up force because considerable economic inequalities exist among different States of India. This work provides broad contours -- including historical evolution -- of fiscal relations between the Central and State Governments in India.

The Finance Commission (IAST: Vitta Āyoga) was established by the President of India in under Article of the Indian was formed to define the financial relations between the central government of India and the individual state Finance Commission (Miscellaneous Provisions) Act, additionally defines the terms of qualification, appointment and Commission executives: N.

Singh, IAS, Chairman. The Finance Commission is the key institutional arrangement that has guided the functioning of fiscal federalism in India. Given the large differences in fiscal capacities and service standards across states, Rangarajan and Srivastava discuss the theoretical foundations and Author: C.

Rangarajan, D.K. Srivastava. The principle of fiscal federalism enshrined in India's Constitution is under severe strain today. This book is a key addition to understanding the challenges involved.

The authors capture the implications of the abolition of the Planning Commission, the introduction of the controversial Goods and Services Tax regime, and formulation of Terms. It also identifies the challenges before the 15th Finance Commission as an instrument for strengthening Fiscal Federalism in India.

I am delighted to be with you at the India International Center to present my paper on Fiscal Federalism: Finance Commissions, NITI Aayog and GST Council. The Constitutional framework says India is a Union of States.

Fiscal federalism in India theory and practice, M. Govinda Rao, Tapas Kumar Sen,Political Science, pages. This book critically reviews India s fiscal federalismand focusses on issues rather than institutions. Finance Commissions in India An Analytical Study, Atul Kumar Singh, Jan 1,Intergovernmental fiscal relations,   The book titled “Indian Fiscal Federalism” has been authored by former RBI Governor Dr.

Y V Reddy and co-authored by Dr. G R Reddy. The authors noted that the Niti Aayog should ideally be the focal point for all transfers from the Centre and states outside the. On 8 March, I had the privilege and honour of being a panellist at an event organized at the Madras School of Economics for the release of the book Indian Fiscal Federalism authored by Y.V.

Reddy Author: V. Anantha Nageswaran.Fiscal Federalism: Addressing the real deficit suggested by the Finance Commissions. The book notes that the fiscal consolidation of the government sector has placed an asymmetric burden on.

Call for emphasis on fiscal federation 09 Feb,PM IST Chairman of the 12th Finance Commission and former Governor of Reserve Bank of India Dr C Rangarajan has called upon econometricians to lay special emphasis on the issues pertaining to fiscal federation in the country.