Abstract
India's fiscal problem has deep roots in its federal fiscal system where multiple players face the problem of co-ordination. The root causes of the endemic fiscal crisis by both centre and states are to be found in the simultaneous pursuit of fiscal objectives and policies which are in themselves incompatible. The effect need to achieve fiscal consolidation must be seen as the joint responsibility of the central and state governments. To achieve vertical and horizontal balance, both the centre and the states need to raise the levels of resources relative to their respective revenue bases, exercise restraint in undertaking unwarranted expenditure commitments.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
