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Rising Fiscal Deficit and Public Debt in India: Challenges and the Path to Fiscal Prudence

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Introduction India’s economic aspirations rest heavily on sound fiscal management. The fiscal deficit and public debt are critical indicators of a nation’s financial health. While these are not inherently problematic, their sustained rise poses significant challenges for macroeconomic stability, inflation control, and long-term growth. Over the past few years—especially post-COVID-19—India has witnessed a marked increase…

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Role of NITI Aayog in Promoting Cooperative Federalism and Sustainable Economic Development

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Introduction India’s transformation into a globally significant economy depends on inclusive planning, decentralization, and sustainable practices. In this context, the National Institution for Transforming India (NITI Aayog), established in 2015, replaced the Planning Commission to better align with the needs of a dynamic and market-oriented economy. With the core principles of cooperative federalism, innovation, and…

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The Changing Nature of Indian Federalism: Evolution, Challenges, and the Road Ahead

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Introduction Federalism is a fundamental principle of India’s political structure, balancing power between the central government and the states. The Indian federal system, enshrined in the Constitution of India, is unique in its nature, as it incorporates both unitary and federal elements. Over the decades, the nature of Indian federalism has evolved due to various…

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The Functions of the Finance Commission of India: A Key Pillar of Fiscal Federalism

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The Finance Commission of India plays a crucial role in ensuring equitable distribution of financial resources between the central government and the states. Established under Article 280 of the Indian Constitution, the Finance Commission’s primary responsibility is to recommend the distribution of the net proceeds of taxes between the Union and the States, as well…

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Financial Relations Between the Centre and States in India

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Introduction India follows a federal system of government, where financial relations between the Centre and States play a crucial role in maintaining a balance of power and resources. The financial distribution framework is primarily governed by the Constitution of India, which lays out provisions for taxation, grants, and revenue sharing. Given the diverse economic conditions…

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The Role of the Finance Commission in Centre-State Financial Relations

Admin017 mins

Introduction The Finance Commission plays a crucial role in shaping the fiscal framework between the Centre and the States in India. Established under Article 280 of the Indian Constitution, the Finance Commission is a constitutional body tasked with recommending the distribution of financial resources between the Union (Central Government) and the States, as well as…

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