Title: Patterns of World Agricultural Trade 1965-78
Abstract: This paper is the first volume of a three-volume set exploring a range of issues relating to the nature of intergovernmental fiscal relations in India. Under India's federal system, there is a strict division of fiscal powers between the Center and State level government so that each has specific expenditure and taxation responsibilities. Revenue sharing is the means by which the imbalance arising from these constitutional arrangements is righted. Revenue sharing is thus of crucial importance in determining the balance of relations between the Center and the States and the nature as well as the pace of development in India. India's revenue sharing system is unusual in that there are two institutions which, quite independently of one another, determine the intergovernmental fiscal flows. Broadly, the Planning Commission fixes the assistance. The States receive to carry out their Plans while the Finance Commission determines the assistance required for current account budgetary support. The financial flows between the Center and the States are not without importance for Bank-financed projects. Because much Bank assistance in India is provided to the Central Government to be passed on to the States in accordance with the usual procedures for providing development assistance.
Publication Year: 1982
Publication Date: 1982-05-31
Language: en
Type: article
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