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

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DRUGS-Self-Regulation Reconsidered

saving collections and correspondingly in central transfers to the slates on this score. An important question that arises in this context is whether the finances of the states can be left to the whims of the centre in the manner it has been happening. Year after year changes are made under shared resource heads with absolutely no consultation with the states. For instance, did anyone ascertain the states' preference as between withdrawal of income tax incentives for small savings and decline in small saving collections? The present finance minister has been an active player in the management of federal finances in one capacity or another for almost a quarter of a century. So he should have known that a choice was involved and also what the states' preference would be. If he still chose to do the opposite, it only demonstrates how easily the states' interests are given the go by.

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