New dimensions of federal finance in India

The book is a critical-cum- constructive study of the federal finances of the nation on operational front and makes an effort to
place the Union-State financial relationship on healthy tracks. The book first lays down the norms and principles of federal finance in general, analyses their relevance to the prevailing circumstances in particular, and finally puts on the anvil of unbiased scrutiny the entire gamut of financial operations at and in between the Central and State-levels. It pinpoints a number of inconsistencies and inadequacies in the division of functions and financial resources between the Centre and the States and unearths some dangerous trends in the operational realm of our federal finances. The book also puts forth some thought-provoking sugges-
tions first for redivision of respon- sibilities and resources between the two levels of government and secondly for improving the working of our fiscal system. Since all this would necessitate changes in some of the provisions of the Constitution. the book also outlines the directions for needed amendments.