Synopsis
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. In this new edition, the authors examine the pivotal and expanding role of Finance Commissions and momentous changes since 2015, such as the replacement of the Planning Commission by the NITI Aayog and the emergence of the GST Council. The book looks at the changes in the rules of the game, with the Union deviating from the established convention of treating the Finance Commission's recommendations as a package and award by not accepting the state-specific and sector-specific grants recommended by the Fifteenth Finance Commission. It presents a historical perspective on fiscal federalism, its evolution through various phases, and the interplay and overlap of institutional mechanisms, with a focus on the challenges before the Sixteenth Finance Commission. A contemporary, timely, and comprehensive analysis of federalism in India, this practitioners' perspective is a must-read that offers a way forward to address persistent and immediate concerns.
About the Author
Y. V. Reddy, Chairman, Fourteenth Finance Commission,G. R. Reddy, Life Member, Governing Board, Centre for Economic and Social Studies, Hyderabad,Pinaki Chakraborty, Former Director, National Institute of Public Finance and Policy, New Delhi
Dr. Y. V. Reddy was Chairman of the Fourteenth Finance Commission and is a former Governor of the Reserve Bank of India. He belongs to the Indian Administrative Service (1964) and was Secretary (Finance and Planning) in the Government of Andhra Pradesh and Secretary in the Union Finance Ministry. He is currently a Distinguished Fellow at the Centre for Economic and Social Studies, Hyderabad, and has authored several books.
Dr. G. R. Reddy belongs to the Indian Economic Service (1971). He served as Advisor to the Thirteenth Finance Commission and as Advisor (Finance) to the Governments of Andhra Pradesh (November 2012-May 2014) and Telangana (June 2014-December 2023).
Dr. Pinaki Chakraborty is a Visiting Distinguished Professor at National lnstitute of Public Finance and Policy (NIPFP) and the Vice-Chairman of the Institute of Development Studies, Jaipur. Prior to this, he was the Director and Professor, NIPFP, New Delhi, and Economic Advisor to the Fourteenth Finance Commission of India. He served as Member, Advisory Council to the Fifteenth Finance Commission; Member-Secretary, Committee on Fiscal Statistics appointed by the National Statistical Commission; Chairman, Kerala Public Expenditure Review Committee; and Research Associate, Levy Economics Institute, New York. Dr. Chakraborty was also the Chief of Social Policy at UNICEF and the Chief of Field Office at UNICEF Kerala and Tamil Nadu.
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