Reshaping India's fiscal architecture

Another critical but often neglected issue in India's fiscal debates is that of the phenomenal rise in the share of cesses and surcharged levied in the recent past

Indian Fiscal Federalism  
 

Y.V. Reddy and G.R. Reddy 
 

Oxford University Press; Pages 273, Rs 695

That the terms of reference of the 15th Finance Commission are contentious is beyond contestation. Whether it is the controversy over shifting the population base to 2011 from 1971 for determining states’ share in tax devolution, or the mandate given to the 15th Finance Commission to review the recommendations of its predecessor commission or, for that matter, recommendations that could entail creating incentives to states for implementing the centre’s flagship schemes.

These issues have been vociferously debated over the past months. Now, a new book