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New Approaches to Fiscal Federalism in India

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  • Y. V. Reddy

Abstract

Fiscal federalism in India has been impacted considerably by recent events, in particular, the implementation of the award of the 14th Finance Commission (FC), the implementation of Goods and Services Tax, the replacement of the Planning Commission with the NITI Aayog and the terms of reference of the 15th FC. This article examines the issues unfolding from the developments, analyses the new approaches suggested by economists and policymakers and proposes a way forward that synthesises the approaches, while taking account of the lessons of experience. I argue that FC being the bedrock of fiscal federalism in India, it is necessary to strengthen the hands of FC to give an award that is fair and acceptable to the union and states.

Suggested Citation

  • Y. V. Reddy, 2019. "New Approaches to Fiscal Federalism in India," Review of Development and Change, , vol. 24(2), pages 163-186, December.
    • Handle: RePEc:sae:revdev:v:24:y:2019:i:2:p:163-186
    DOI: 10.1177/0972266119884360
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    References listed on IDEAS

    as
    1. Chakraborty, Pinaki & Mukherjee, Anit K. & Amar Nath, H.K., 2010. "Interstate distribution of central expenditure and subsidies," Working Papers 10/66, National Institute of Public Finance and Policy.
    2. M Govinda Rao, 1999. "Principles of Intergovernmental Transfers:Have the Finance Commissions Followed Them?," Working Papers 47, Institute for Social and Economic Change, Bangalore.
    3. Srivastava, D.K. & Rao, C. Bhujanga, 2002. "Government Subsidies in India: Issues and Approach," Working Papers 02/06, National Institute of Public Finance and Policy.
    Full references (including those not matched with items on IDEAS)

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