With respect to the horizontal devolution, it is demanded, among others, that the share of each state in the divisible pool shall be in accordance with their contribution to the country's development.
The Finance Commission, having a say in more than 45% of the revenue receipts of the states, cannot afford to ignore such requests. The moot question is how to understand the contribution of a state to India's development. The prevailing perspective, in terms of the state's contribution to the Union's tax revenue, appears to be a narrow accounting approach and inappropriate from a development perspective. What is the way out?
A new perspective The development of India, given its cooperative fiscal federal system, is contingent on the development of key stakeholders and harnessing the linkages therein. The key stakeholders are broadly: 1) The Union government, 2) State governments, and 3) People. Of the three, states are indeed at the centre stage.
Denne historien er fra December 13, 2024-utgaven av Financial Express Kolkata.
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Denne historien er fra December 13, 2024-utgaven av Financial Express Kolkata.
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'Had fun but it's time': Ashwin bows out of internationals with shock retirement call
RASHWIN STOOD in the corridor outside the press conference room after the third Test ended in a draw. Captain Rohit Sharma, walking just ahead of him, gestured to the waiting journalists. \"Sab pata chalega abhi (everything will be known now),\" he said with a laugh, perhaps in reference to the buzz in the press box and on social media about the possible retirement of a \"big player\".
US announces H-1B visa overhaul, Indian techies to benefit
TO TAKE EFFECT IN MID-JANUARY
Navy boat hits ferry off Mumbai coast, 13 dead
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Free healthcare for senior citizens: Kejriwal
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Trump threatens to impose reciprocal tariffs on India
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Opposition seeks Shah's resignation
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Walmart has a tough battle ahead in India
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