Challenges and Issues in Indian Fiscal Federalism

Description

This book discusses various dimensions of Indian fiscal federalism, focusing on the current fiscal imbalances – both vertical and horizontal – and their correction. Throwing light on different angles of this subject, it presents well-researched papers, which are divided into three sections. The first section, ‘Fiscal federalism and resolving the fiscal imbalances’, includes five chapters that discuss this theme and also explain the various strategies to remove the existing imbalances in India. ‘Fiscal decentralization for high growth’ which is the second section, explains how decentralisation leads to high economic growth and showcases empirical evidence from a few Indian states that are flourishing due to this policy. The third section, ‘Emerging issues’ offers six chapters describing several existing key concerns in fiscal federalism that have a major impact on achieving India’s development goals. Including contributions from leading academics in this field, the book will be of great interest to research scholars and policy makers alike. “Besides addressing the core issue of fiscal imbalances and ways to correct them, the [chapters] touch on several issues confronting the Indian fiscal system at the centre , state and local levels. The [chapters] are well researched and well argued. The book is a valuable addition to the literature on Fiscal Federalism.” – Dr. C. Rangarajan, Ex-Governor of Reserve Bank of India; Chairman, Madras School of Economics, Chennai, India. Front Matter ....Pages i-xvi Fiscal Federalism in India: Emerging Issues (Y. V. Reddy)....Pages 1-6 Front Matter ....Pages 7-7 Making Federalism Work for India’s Development (M. Govinda Rao)....Pages 9-13 Cooperative Federalism: Implications for Social Sector Expenditure in India (K. S. Hari)....Pages 15-30 A Comparison of Fiscal Capacity of States in India: A Regression Approach (Ashok Mittal, Abbas Haider Naqvi)....Pages 31-45 Impact of Fiscal Transfers on Gross Domestic Product of Indian Federal States: A Panel Data Analysis (Lalitagauri Kulkarni, Akshay Dhume)....Pages 47-59 Analysis of Trends and Patterns of Southern States’ Fiscal Indicators (K. Gayithri, Nagesha G., J. S. Darshini)....Pages 61-74 Front Matter ....Pages 75-75 Fiscal Decentralization—A Case Study of Kerala State (Naseer Ahmed Khan, M. P. Muhammed Riyas)....Pages 77-87 Fiscal Deficit and Economic Growth Linkage in India: Impact of FRBM Act (Ranjan Kumar Mohanty)....Pages 89-105 Grants-in-Aid and State Domestic Product: An Empirical Analysis in India (Sajad Ahmad Bhat, Aadil Ahmad Ganaie, Naseer Ahmed Khan, Bandi Kamaiah)....Pages 107-120 Front Matter ....Pages 121-121 Public Debt and Economic Growth in India: Evidence from Granger Causality Test (Nityasundar Manik, Naseer Ahmed Khan)....Pages 123-142 Efficiency and Adequacy of Public Health System in Improving Health Outcomes: A Stochastic Frontier Analysis for Indian States (J. V. M. Sarma, Pradeep Kamble)....Pages 143-158 Federalism: An Idea Behind the Success of Indian Democracy (Waseem Ahmad Sofi, Arshi Khan)....Pages 159-169 Fiscal Reforms for High Economic Growth: An Indian Perspective (Naseer Ahmed Khan)....Pages 171-182