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On the new fisc turf, states hopelessly dependent on the Centre

Given the Centre’s fiscal constraints, states’ development spend may suffer if they are unable to strengthen their own resource-raising abilities 

September 09, 2021 / 08:37 AM IST
On the new fisc turf, states hopelessly dependent on the Centre

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The COVID pandemic has brought about a subtle shift in the character of fiscal federalism in the country. States are waking up to the reality that, instead of always looking up to the Centre to chart their cash course, it’s time they learnt to manage their own interests better. This realisation perhaps drove them to commit a substantial hike in capital expenditure (capex) in the current financial year — particularly at a time when the Centre chose to moderate its...

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