Federalism and Fiscal Transfers in India av C. (Chairman Chairman Madras School of Economics) Rangarajan, D.K. (Chief Policy Advisor Chief Policy Advi

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India''s Constitution provides for a federal framework encompassing the central, state, and local governments. The system of fiscal transfers has been guided by India''s Finance Commissions to bring revenues closer to expenditures across different tiers of government. In India, fifteen Finance Commissions have submitted their recommendations so far; the Sixteenth Finance Commission, which has recently been set up, is presently deliberating on issues of fiscal transfers as per constitutional provisions. Federalism and Fiscal Transfers in India provides a critical overview of the theoretical foundations guiding fiscal transfers in India and the country''s empirical realities. It extensively covers not only the vertical and horizontal dimensions of fiscal transfers in the past but also looks at the contemporary issues and tensions that prevail between central and state governments, emphasising the principle and role of the Equalization Approach for determining inter-state sharing of resou