Volume II Issue III July-September 2022

Name of Author : Dr. Resmi G

Title of the paper : Fiscal Federalism: Major Aspects

Abstract: India is a federation where functions of Union and State’ governments are well explained in the Constitution. This division of responsibilities are aimed to achieving political, economic and administrative efficiency. Fiscal imbalances, both vertical and horizontal, are common to federations and India. The Indian Constitution provides for instruments like shared taxes and grants-in-aid to address such imbalances and an institutional mechanism called the finance commissions with specified terms of reference to negotiate such imbalances. There are a number of challenges facing India’s fiscal federalism. The paper deals with Fiscal federalism and major aspects.

Keywords : Fiscal federalism, Government, Finance Commission, State, Constitution, Democracy

DOI :

Page No. : 57-59