ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Finance Commission and the States

THE state finance ministers, summoned to a meeting in Delhi by the Ninth Finance Commission, made known their apprehensions that the commission's zero deficit target for 1994-95 was impractical and, worse, was also perhaps a ruse to deny to the states their clue share of central revenues. While the chairman, known not only for his penchant for hyperbole but also for the mental block he suffers from in regard to economic logic, stuck to his guns that there could be no compromise on the zero deficit target, the rest of the commission, truncated as it is for the present, appeared to be much more flexible. In any case, it was all but conceded that the states' share of central revenues could not be permitted to go down.

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