An essay on fiscal federalism
We use cookies essay give you the best experience possible. India is the largest democracy with federal form of government. The fiscal arrangements in India have evolved in a quasi-federal system to meet the requirements of centralized planning in a mixed economy fiscal federalism and their sources of revenue for both Centre and State were clearly demarcated with regard to the financial relationship and the responsibilities between them.
An Essay on Fiscal Federalism
Our constitution provides residual powers to the Centre and makes clear division of fiscal powers between the Centre and the Federalism Governments. Through various source of revenue to government, the Constitution of India provides for the establishment of fiscal federalism Finance Commission for the purpose of please click for source of certain resources essay revenue between the Union and the State Governments.
The An essay on fiscal federalism and online phd program in rehabilitation science the financial relations between the Union and the State Government. Although the continue reading have been assigned certain taxes which are levied and collected federalism them, they federalism share in the revenue of certain union taxes and there are certain other taxes which are levied and collected by the Central Government but whole proceeds are transferred to the states.
In India, the Centre-State financial relationship relates to the distribution of power in resource mobilization an essay on fiscal federalism the Centre and States as also the sharing of expenditure responsibilities. During the last decade the disparities widened among the States which became economically and politically important.
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This situation resulted due to globalization and privatization by which certain States enjoy great advantages over the other. The most important and buoyant revenue sources are assigned to the Union Government, while major expenditure responsibilities an essay on fiscal federalism with the State government, which take care of the social and economic sectors.
Hence, in read more federal structure, there is the possibility of conflicts in sharing the revenue and expenditure of both the governments. While the State governments in India collects federalism one-third of the total tax revenue accruing to the government sector, their expenditure obligations are disproportionately high, accounting for three fourths of the aggregate social expenditure and more than one-half of the an essay on fiscal federalism expenditure on economic services.
Removal of these an essay on fiscal federalism imbalances of the States by optimizing social fiscal of the economy is to remove the fiscal balance in the inter-government transfers from the Centre by finance commission entrusted in equalization of transfers of funds according to the economic requirement irrespective of the political parties ruling. The real challenge of any federation is to eliminate intra-regional vertical and horizontal fiscal inequalities.
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This paper analyzes these aspects of vertical an essay on fiscal federalism horizontal fiscal imbalance in federal India and the way out to the problem to development path.
In other words, it is the study essay how competencies expenditure side and fiscal instruments revenue side are allocated across different vertical layers of the federalism. An important part of its subject matter is the system of transfer payments or grants by which federalism central government shares its revenues with lower click of government. India has fiscal federalism federal form of government, and hence a federal finance system.
An Essay on Fiscal Federalism
The essence of federal form of government is that the Centre and the State Governments should be independent of each provided with sources of raising adequate revenues to discharge the an essay on fiscal federalism entrusted to it. For the successful operation of the federal form of government financial independence and adequacy form the backbone.
The founding fathers of our Indian Constitution were deeply concerned about ensuring the unity and integrity of the country. They were aware of the forces of disruption and disunity an essay on fiscal federalism within the country.
Fiscal Federalism in India Essay Example for Free
The dangers at the time of independence were handled by a strong government at the Centre. Indian federal system is about sixty years old, compared to more than two centuries an essay on fiscal federalism the United States or Switzerland or Canada. The federal character of public finance in India has its origin an essay on fiscal federalism far as the seventies of the last century.
Although at that time the country had a unitary form of government, some division of functions and financial powers between the Center and the state was found administratively desirable. Ever since then the arrangements have been revised and improved from time to time.
Fiscal federalism entails the division of an essay on fiscal federalism in respect of taxation and public expenditure among the different layers of the government, namely the Center, the states and the local bodies.
Fiscal federalism helps governmental organization to realize cost efficiency by economies of scale in providing public services, which corresponds federalism closely to the preference fiscal federalism the people. From fiscal point of federalism of economy, it creates essay unified common market, which promotes link economic activity.
The federal system has essay an essay on fiscal federalism well for India to promote their democracy, to strengthen the federalism unity and to achieve economic progress to the nation completely. Fiscal structure provides link sources of revenue and expenditure. Fiscal challenges of vertical and horizontal imbalances play an important role to balance the fiscal condition between the steels. To overcome the link redressed our Constitution has created an institution called the Finance Commission, which is an independent Constitutional body, fiscal after federalism five years.
List I invests the union with all functions of national essay such as defense, external affairs, communications, constitution, organization of the Supreme Court and the high courts, elections etc.
Fiscal Federalism in India Essay
List II invests the states with a number of important functions touching on the life and welfare of the people such as public order, police, local government, public health, agriculture, land etc.
List III is a concurrent List, which includes administration of justice, economic and social planning, trade and write composition about my school, etc. According to ArticleSeventh An essay on fiscal federalism, Parliament has exclusive powers to make laws federalism matters enumerated in List I, notwithstanding the provisions of essay an essay on fiscal federalism clauses an essay on fiscal federalism this Article.
On the other hand, the Legislature of any state has exclusive power to make laws for the state regarding any of the matters enumerated in List II, subject an essay on fiscal federalism federalism clauses. Thus, the Union has supremacy over a wide range of the legislative field.
These lists include the powers of taxation also. The union List includes among others, taxes on income other than agricultural income, excise duties, customs and corporation tax. The State list includes land revenue, excise on Alcoholic liquors, tax on agricultural incomes, estate duty, taxes on sale or purchase of goods, taxes on vehicles, on professions, on luxuries, on entertainment, on stamp duties, etc. The Finance Commission of India came into existence in It was formed to define the financial relations between the centre and the state.
The Finance Commission Act of states the /academic-writer-in-uk.html of qualification, appointment and federalism, the term, eligibility and powers of the Finance Commission. As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members.
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