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Undermining Transfer System

WEEKLYECONOMIC AND POLITICAL Undermining Transfer System One of the distinctive features of the Indian Constitution is the mechanism stipulated for the transfer of revenues from the centre to the states. Recognising the asymmetry in the tax powers and functional responsibilities assigned to the two levels of government leaving the states with large gaps in their budget, the Constitution thought it necessary to provide a way to ensure that the revenues accruing to the centre are shared compulsorily with the states on a regular basis. In order that this would not leave the states at the mercy of the centre and the revenue transfer was mediated in a fair and judicious manner the Constitution mandated the president to appoint a panel of persons of eminence and necessary expertise in the matter

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