Federal Fiscal Relations in India
Federal Fiscal Relations in India Federal fiscal management involves the sharing and distribution of financial and economic powers among different layers of government, and restructuring of public…
Specifikacia Federal Fiscal Relations in India
Federal Fiscal Relations in India
Federal fiscal management involves the sharing and distribution of financial and economic powers among different layers of government, and restructuring of public finances, among others. Even with all such institutional arrangements, the federal fiscal management is not without snags and hitches. Countries such as India, that adopted the federal form of government, have guidelines in their Constitutions for such division of economic and financial powers.
India with its diverse social, economic and cultural background is an ideal case of adopting the federal form of government. Countries vary in their choice of federal system, welfare objectives, approaches to ensure balanced regional development and equity in economic growth, and the overall economic management approach. This fact was well-recognized even before Independence and so a system of federal fiscal sharing - sharing of
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