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State Finances in India: Post-Reform Experiences and Challenges Ahead

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  • Meenu Soni

Abstract

The Indian Constitution assigns important responsibilities to the states in many sectors but, the states’ ability to undertake and perform these developmental functions effectively is critically determined by their fiscal position. This study attempts to highlight the developments in states’ finances since 1991. The results of the study show that the departmental responsibilities of the states have increased manifold and there has not been sufficient devolution of funds to them. As a consequence, the states have been feeling alienated from the federal set up and demanding greater financial autonomy. A large part of the unrest that we see in different parts of the country is undoubtedly related to the inability of the states to ensure quick economic growth within their respective areas due to paucity of funds. In order to augment the financial resources of the states, it has been suggested that additional resources should be provided to the states.

Suggested Citation

  • Meenu Soni, 2007. "State Finances in India: Post-Reform Experiences and Challenges Ahead," The IUP Journal of Public Finance, IUP Publications, vol. 0(3), pages 37-63, August.
    • Handle: RePEc:icf:icfjpf:v:05:y:2007:i:3:p:37-63
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