15th Finance Commission may need to work like it's the first: Subramanian

CEA suggests four separate 'pots' for tax sharing

Chief Economic Advisor Arvind Subramanian on Friday stressed the importance of the 15th Finance Commission in dealing with Centre-state issues even as India comes to terms with the common market formed through the goods and services tax (GST), as a result of which taxation powers have shifted more in favour of the Centre.

He suggested there was much to learn from the lessons of economic integration in Europe while dealing with India’s unique concerns.

He was speaking at a lecture organised by Business Standard in Mumbai. Such economic integration typically brings prosperity but also carries the risk of shocks transmitted