The poor state of India’s fiscal federalism

News Today 29.07.2022

In his last speech, in 1949, to the Constituent Assembly, B.R. Ambedkar sounded a note of caution about the Indian republic entering a life of contradictions. “In politics we will have equality and in social and economic life we will have inequality. These conflicts demanded attention: fail to do so, and those denied will blow up the structure of political democracy”, he warned, though Jawaharlal Nehru truly believed that inequities could be addressed through his tryst with the planning process. A degree of centralisation in fiscal power was required to address the concerns of socio-economic and regional disparities, he felt. (Read More)

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