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

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Finance Commission Awards and Fiscal Stability in States

The authors examine the efficacy of Finance Commission awards in bringing about fiscal stability among the states. An empirical analysis reveals that though transfers helped to reduce the overall gross fiscal deficit of the states, the issue of reducing horizontal fiscal inequity is yet to be addressed. The authors find wide interstate disparity in respect of transfers and suggest streamlining disbursement criteria on the basis of individual state characteristics rather than a general approach across states.

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