The Twelfth Finance Commission's proposed plan for restructuring the debt of state governments contains stringent conditions that probably violate the basic tenets of fiscal federalism. Macroeconomic...
Twelth Finance Commission
The Twelfth Finance Commission has broken new ground in several key areas and made recommendations which, if fully implemented, will have a far-reaching impact on the finances and functioning of...
The Twelfth Finance Commission has recommended a scheme of fiscal transfers that can serve the objectives of equity and efficiency within a framework of fiscal consolidation. The effort needed to...
The root causes of the endemic fiscal crisis, especially in the states, are to be found in the simultaneous pursuit of fiscal objectives and policies which are in themselves incompatible. Carry-overs...
The prevailing fiscal environment is demanding and much was expected of the Twelfth Finance Commission's award in not only ensuring a fair share of resources between the centre and states and among...
This paper examines three aspects of the Twelfth Finance Commission recommendations. First, it looks at the most urgent issue for states, the FRBM legislation which they must enact if they are to...
The Twelfth Finance Commission has made significant recommendations on debt relief for states. The quantum of relief is substantial and the conditionalities - passage of a fiscal responsibility...
An alternative approach of measuring the fiscal discipline of states by preparing a composite index (Fiscal Performance Index) out of eight fiscal indicators is attempted in this paper. It is argued...
The TFC?s focus on growth as a key element of its fiscal reform strategy is well taken. Also eminently sensible are its recommendations for performance budgeting; doing away with the distinction...
