INDIAN FISCAL FEDERALISM CONSTITUTIONAL AND LEGAL PROSPECTIVES

Indian Fiscal Federalism: Constitutional and Legal Perspectives explores the complex framework of fiscal relations between the central and state governments in India, emphasizing the constitutional and legal provisions that govern these interactions. It examines the division of financial powers and responsibilities under the Indian Constitution, particularly focusing on Articles 245 to 263, which outline the allocation of taxes and grants between the Centre and states. The book highlights the crucial role of the Finance Commission in recommending resource distribution, addressing fiscal imbalances, and ensuring equitable development. It discusses legal mechanisms like the Goods and Services Tax (GST) and the challenges of fiscal imbalance, where some states depend heavily on central transfers. The tension between cooperative and competitive federalism, along with the impact of globalization and economic reforms, is also analyzed. Furthermore, the book evaluates judicial interpretations and legal disputes related to fiscal federalism and offers recommendations for reform, aiming to enhance states fiscal autonomy and improve the transparency of revenue-sharing mechanisms.