14th Finance Commission has taken away the oil cushion to some extent: Arvind Subramanian

Interview with Chief Economic Advisor

Ahead of Budget 2015-16, Chief Economic Advisor Arvind Subramanian says declining crude oil prices has given Finance Minister Arun Jaitley the leeway to meet the Centre's fiscal deficit target for 2015-16. In an interview on Doordarshan, Subramanian tells T N Ninan the 14th Finance Commission's recommendations should be seen in the context of greater fiscal autonomy to states. Edited excerpts: The 14th Finance Commission's recommendations give a lot of money to states. Yet, other transfers will come down. On a net basis, will states get significant additional transfers or ...