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Chapter 1 INTRODUCTION 1.1 the Thirteenth Finance Commission
1 Chapter 1 INTRODUCTION 1.1 The Thirteenth Finance Commission has the unique opportunity to review and draw inferences from nearly six decades of federalism in public finance management of the nation. Based on such inferences, a much needed course correction can be initiated, reversing a trend that has been eroding the very concept of fiscal federalism. Government of Kerala would earnestly plead for such a focus in the work of this Commission. 1.2 Articles of the Constitution between 268 and 275 have designed a well-structured system whereby States get benefit from the Centre’s taxation power. The purpose is clear from the wording of Article 275 which is the final residual Article in this structure. Aid to the revenues of States is what the makers of Constitution had in mind. This really gives Finance Commission the authority to deal with the entire area where States’ revenues are applied – not just one part like non-plan revenue account expenditure. But Commissions chose to confine themselves to that area (with only one exception in recent times – Second report of the Ninth Finance Commission covering the period 1990- 95). Over the years, somehow it came to be accepted that Finance Commissions’ main task is to try and balance the non-plan revenue account of Stat es. 1.3 Whenever Commissions chose (or were asked) to look into other aspects, it was either for providing supplementary provisions for developmental expenditure (like special problem grants) or admonish States and guide them out of what was perceived to be their fiscal imprudence. The administration of such condition based grants and debt relief schemes was entrusted with Central Government Ministries. -
Daily GA Updates
Daily GA Updates COVID-19 vaccine could be 90% effective: Pfizer A vaccine jointly developed by Pfizer and BioNTech was 90% effective in preventing Covid-19 infections in ongoing Phase 3 trials, the companies announced. According to preliminary findings, protection in patients was achieved seven days after the second of two doses, and 28 days after the first. The companies said they expect to supply up to 50 million vaccine doses globally in 2020, and up to 1.3 billion doses in 2021. While the Pfizer-BioNTech trial has yet to be peer-reviewed by experts, scientists reacted positively -- if cautiously to the results. India welcomes removal of Sudan from list of State Sponsors of Terrorism India has welcomed the removal of Sudan from the List of State Sponsors of Terrorism and Sudan’s normalisation of relations with Israel. The Indian External Affairs Ministry said in a statement that India’s relations with Sudan are historic and special, and forged on the basis of shared values and close people-to-people contacts. Daily GA Updates Nepal President Bidhya Devi Bhandari releases special anthology on Mahatma Gandhi Nepal President Bidhya Devi Bhandari has released a special anthology on Mahatma Gandhi- 'My understanding about Gandhi' - during a ceremony at Kathmandu in the presence of Indian Ambassador Vinay Mohan Kwatra. The book has been brought out by the Embassy of India along with the BP Koirala India-Nepal Foundation to cherish the values of the Mahatma's universal teachings with Nepali friends. The pictorial anthology in Nepalese has been released to celebrate 151st Birth Anniversary of Mahatma Gandhi and to mark the culmination of the two years long celebrations of '150 years of Mahatma'. -
FUNDS RECOMMENDED by 12Th FINANCE COMMISSION and RELEASED by GOVT
FUNDS RECOMMENDED BY 12th FINANCE COMMISSION AND RELEASED BY GOVT. OF INDIA IN DIFFERENT YEARS (Rs. in Crores) Released by Recommendation Released by Recommendation Released by Recommendation Recommendation Released Recommendation Released by Recommendation Released by SL PURPOSES / SCHEMES GOI by of TFC GOI of TFC GOI of TFC of TFC by GOI of TFC GOI of TFC GOI (31.12.07) 2005-06 2006-07 2007-08 2008-09 2009-10 2005-10 1 Non-plan Revenue Deficit Grant. 488.04 488.04 0.00 0.00* 0.00 0.00 0.00 0.00 0.00 0.00 488.04 488.04 2 Central Share of Calamity Relief 226.16 226.16 232.68 232.68 239.53 239.53 246.73 324.50 254.27 0.00 1199.37 1022.87 3 Top up Grant for Education Sector 53.49 53.46 58.57 58.57 64.13 64.13 70.22 35.11 76.89 0.00 323.30 211.27 4 Top up Grant for Health Sector 31.22 31.22 34.81 34.81 38.81 19.41 43.28 21.64 48.25 0.00 196.37 107.08 5 Maintenance of Roads & Bridges. 0.00 0.00 368.77 368.77 368.77 368.77 368.77 368.77 368.77 0.00 1475.08 1106.31 6 Maintenance of Public Buildings. 0.00 0.00 97.28 97.28 97.28 97.28 97.29 48.65 97.29 0.00 389.14 243.21 7 Maintenance of Forests. 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 0.00 75.00 60.00 8 Heritage Conservation 0.00 0.00 12.50 12.50 12.50 12.50 12.50 9.37 12.50 0.00 50.00 34.37 9 State Specific Need (a+b) 0.00 0.00 42.50 40.50 42.50 3.75 42.50 46.44 42.50 0.00 170.00 131.44 a) Chilika Lake 0.00 0.00 7.50 7.50 7.50 3.75 7.50 11.44 7.50 0.00 30.00 26.44 b)Sewerage System for Bhubaneswar 0.00 0.00 35.00 33.00 35.00 0.00 35.00 35.00 35.00 0.00 140.00 105.00 10 Grants for local bodies. -
Political Economy of India's Fiscal and Financial Reform*
Working Paper No. 105 Political Economy of India’s Fiscal and Financial Reform by John Echeverri-Gent* August 2001 Stanford University John A. and Cynthia Fry Gunn Building 366 Galvez Street | Stanford, CA | 94305-6015 * Associate Professor, Department of Government and Foreign Affairs, University of Virginia 1 Although economic liberalization may involve curtailing state economic intervention, it does not diminish the state’s importance in economic development. In addition to its crucial role in maintaining macroeconomic stability, the state continues to play a vital, if more subtle, role in creating incentives that shape economic activity. States create these incentives in a variety of ways including their authorization of property rights and market microstructures, their creation of regulatory agencies, and the manner in which they structure fiscal federalism. While the incentives established by the state have pervasive economic consequences, they are created and re-created through political processes, and politics is a key factor in explaining the extent to which state institutions promote efficient and equitable behavior in markets. India has experienced two important changes that fundamentally have shaped the course of its economic reform. India’s party system has been transformed from a single party dominant system into a distinctive form of coalitional politics where single-state parties play a pivotal role in making and breaking governments. At the same time economic liberalization has progressively curtailed central government dirigisme and increased the autonomy of market institutions, private sector actors, and state governments. In this essay I will analyze how these changes have shaped the politics of fiscal and financial sector reform. -
Tamil Nadu Government Gazette
© [Regd. No. TN/CCN/467/2012-14. GOVERNMENT OF TAMIL NADU [R. Dis. No. 197/2009. 2017 [Price: Rs. 1.60 Paise. TAMIL NADU GOVERNMENT GAZETTE PUBLISHED BY AUTHORITY No. 51] CHENNAI, WEDNESDAY, DECEMBER 20, 2017 Margazhi 5, Hevilambi, Thiruvalluvar Aandu–2048 Part II—Section 1 Notifications or Orders of specific character or of particular interest to the public issued by Secretariat Departments. NOTIFICATIONS BY GOVERNMENT CONTENTS Pages. FINANCE DEPARTMENT Constitution of Fifteenth Finance Commission 184-185 DTP—II-1(51) [ 183 ] 184 TAMIL NADU GOVERNMENT GAZETTE [ Part II—Sec.1 NOTIFICATIONS BY GOVERNMENT FINANCE DEPARTMENT Constitution of Fifteenth Finance Commission [G.O. No. 363, 12th December 2017, Karthigai 26, Hevilambi, Thiruvalluvar Aandu-2048.] No.II(1)/FIN/36/2017.—The following Order of the Government of India, Ministry of Finance, Department of Economic Affairs, New Delhi, dated 27th November 2017 is republished:- In pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 (33 of 1951), the President is pleased to constitute a Finance Commission consisting of Shri N.K. Singh, Member of Parliament and former Secretary to the Government of India, as the Chairman and the following four other members, namely:- 1. Shri Shaktikanta Das, Member Former Secretary to the Government of India 2. Dr. Anoop Singh, Member Adjunct Professor, Georgetown University 3. Dr. Ashok Lahiri, Member (Part time) Chairman (Non-executive, part time) Bandhan Bank 4. Dr. Ramesh Chand, Member, NITI Aayog Member (Part time) 2. Shri Arvind Mehta shall be the Secretary to the Commission. -
Annual Report 1 Start
21st Annual Report MADRAS SCHOOL OF ECONOMICS Chennai 01. Introduction ……. 01 02. Review of Major Developments ……. 02 03. Research Projects ……. 05 04. Workshops / Training Programmes …….. 08 05. Publications …….. 09 06. Invited Lectures / Seminars …….. 18 07. Cultural Events, Student Activities, Infrastructure Development …….. 20 08. Academic Activities 2012-13 …….. 24 09. Annexures ……... 56 10. Accounts 2012 – 13 ……… 74 MADRAS SCHOOL OF ECONOMICS Chennai Introduction TWENTY FIRST ANNUAL REPORT 2013-2014 1. INTRODUCTION With able guidance and leadership of our Chairman Dr. C. Rangarajan and other Board of Governors of Madras School of Economics (MSE), MSE completes its 21 years as on September 23, 2014. During these 21 years, MSE reached many mile stones and emerged as a leading centre of higher learning in Economics. It is the only center in the country offering five specialized Masters Courses in Economics namely M.Sc. General Economics, M.Sc. Financial Economics, M.Sc. Applied Quantitative Finance, M.Sc. Environmental Economics and M.Sc. Actuarial Economics. It also offers a 5 year Integrated M.Sc. Programme in Economics in collaboration with Central University of Tamil Nadu (CUTN). It has been affiliated with University of Madras and Central University of Tamil Nadu for Ph.D. programme. So far twelve Ph.Ds. and 640 M.Sc. students have been awarded. Currently six students are pursuing Ph.D. degree. The core areas of research of MSE are: Macro Econometric Modeling, Public Finance, Trade and Environment, Corporate Finance, Development, Insurance and Industrial Economics. MSE has been conducting research projects sponsored by leading national and international agencies. It has successfully completed more than 110 projects and currently undertakes more than 20 projects. -
VIDHI CENTRE for LEGAL POLICY Fiscal Federalism in India: Some
Draft for Delivery VIDHI CENTRE FOR LEGAL POLICY New Delhi 23 Sept. 2015 Fiscal Federalism in India: Some Reflections Y.V. Reddy1 Friends, I had a brief exposure to the expertise available with Vidhi Centre for Legal Policy in connection with the work relating to the 14th Finance Commission. I was impressed with their professionalism and commitment. I, therefore, felt that my admiration for their valuable work should be demonstrated by my participating in this event, to release the Briefing Book on Cooperative Federalism. This book is valuable because it addresses specific issues of contemporary relevance, and suggests approaches around which discussions may take place, and way forward contemplated. This book, therefore, should be of interest to a broad range of policy-makers, academics and jurists. The book gives a succinct account of the concept of cooperative fiscal federalism currently under intense debate. Theory of fiscal federalism and its practice in India is one but important element of cooperative federalism and it is well documented in great detail by many eminent scholars. In particular, my friend, Professor M. Govinda Rao is an acknowledged authority on the subject. I cannot add anything more today to what has been written by him on the subject. One of the reasons for considerable contemporary debate on the subject of this book is the report of the 14th Finance Commission, and perhaps, I am expected to dwell on it. Having been a co-author of the report, it may not be appropriate for me to explain, elaborate or defend, what has been stated. So, I consulted the organizers on what I should do. -
Public Finance and Policy
Introduction to the Institute 39TH ANNUAL REPORT 2014-2015 NAT ONAL OF UBLIC FINANCE I NSTITUTE POLICY & page | 1 NIPFP Annual Report 2014-2015 ANNUAL REPORT APRIL 1ST, 2014 – MARCH 31ST, 2015 PRINTED AND PUBLISHED BY: THE SECRETARY NATIONAL INSTITUTE OF PUBLIC FINANCE AND POLICY AN AUTONOMOUS RESEARCH INSTITUTE UNDER THE MINISTRY OF FINANCE, GOVERNMENT OF INDIA 18/2, SATSANG VIHAR Marg, SPECIAL INSTITUTIONAL AREA (NEAR JNU), NEW DELHI 110067 TEL.: 011 26569303, 26569780, 26569784 FAX: 91-11-26852548 EMAIL: [email protected] WEBSITE: www.nipfp.org.in COMPILED, CONCEPT, DESIGN & EDITED BY: SAMREEN BADR COVER DESIGN, TEXT DESIGN ARTWORKS & PRINTED BY: VAP EMAIL: [email protected] TEL: 09811285510 NATIONAL INSTITUTE OF PUBLIC FINANCE AND POLICY, NEW DELHI PROVIDING POLICY ADVICE SINCE 1976 2 | page Introduction to the Institute CONTENTS Introduction to the Institute5 Annexures List of Studies 2014-2015i Research Activities17 ii NIPFP Working Paper Seriesv Fiscal/Taxation-related Studies of Central and ii Internal Seminar Series v State Government19 iii Macroeconomic and Financial Sector Policy List of Governing Body Members as on 31.3.2015i Studies20 x List of Priced Publicationsx State Development Studies 24 iv Published Material of NIPFP Facultyx Other Studies28 ix New Projects initiated30 List of Staff Members as on 31.3.2015x Workshops, Seminars, Meetings and xv Conferences3 List of Sponsoring, Corporate, Permanent and 1 Ordinary Members as on 31.3.2015x Training Programmes38 xxi Finance and Accountsx NIPFP Publications (2014-2015)39 -
The Post-Reform Performance of the Manufacturing Sector in India*
Manufacturing Sector Post-reform Performance in India The Post-reform Performance of the Manufacturing Sector in India* Kaliappa Kalirajan Abstract Foundation for Advanced Manufacturing played an important part in sustaining India’s eco- Studies on International Development nomic growth in the 1970s and 1980s. The economic reforms of National Graduate Institute for the early 1990s did not lead to sustained growth of the manufac- Policy Studies (FASID/GRIPS) 2–2, Wakamatsucho turing sector. After an acceleration in the mid-1990s, growth Shinjuku-Ku slowed in the decade’s second half. The analysis presented in this Tokyo 162–8677 paper reveals that manufacturing-sector growth in the post- Japan [email protected] reform period is “input driven” rather than “efficiency driven,” with significant levels of technical inefficiency. The paper advocates Shashanka Bhide policies to improve production efficiency by encouraging invest- National Council of Applied Economic Research ment in research and development, technical training for workers, 11 I.P. Estate and technology-aided managerial processes. New Delhi 110002 India [email protected] and Institute for Social and Economic Change Nagarabhavi 1. The setting: Growth and competitiveness of India’s Bangalore 560072 India manufacturing sector India’s nonagricultural sectors produced 75 percent of the overall output of the country’s economy in 1993–2002. Of these nonagricultural sectors, manufacturing accounted for 23 percent of total GDP; the electricity, water supply and gas, mining, and construction subsectors accounted for 9 percent; and the service sector, comprising all other subsectors, accounted for the remaining 43 percent. Thus, manufacturing, when considered a single group of activi- ties, is a major sector in the Indian economy. -
Speech of Dr. Manmohan Singh, Minister of Finance, Introducing the Budget for the Year 1995-96*
SPEECH OF DR. MANMOHAN SINGH, MINISTER OF FINANCE, INTRODUCING THE BUDGET FOR THE YEAR 1995-96* Highlights — Proposal to establish Rural Infrastructural Development Fund — Providing Rural Credit Facilities to SCs and STs — Proposal to support Village Industries — Extending Financial Assistance to Small Scale Industries — Proposal to set up North Eastern Development Bank (NEDB) — Proposal to launch a new Anti-poverty Scheme — Scheme to promote Social Insurance — Proposal to establish an Independent Regulatory Authority for the Insurance Industry — Proposal for Tax Holiday — Implementation of Integrated Urban Poverty Eradication Programme Sir, I rise to present the Budget for 1995-96. Four years have passed since our Government, under the leadership of Prime Minister Shri P.V. Narasimha Rao, took office in the midst of an Budget, 1995-96 Total Receipts — Rs. 1,67,151 crore Total Expenditure — Rs. 1,72,151 crore Deficit — Rs. 5,000 crore * Lok Sabha Debate, 15.3.1995, cc. 204-228. 1401 1402 FINANCE MINISTERS’ BUDGET SPEECHES unprecedented economic crisis. Our immediate task was to save the nation from a relentless slide into the abyss of falling production, soaring inflation and deepening poverty. We dealt swiftly with the immediate crisis and we also worked towards a broader objective of shifting the economy on to a path of rapid, employment-generating growth. Our aim was to raise India to her rightful place in the comity of nations. Sometimes, in the heat of political debate, we lose sight of what has already been achieved. Let me take a few minutes to outline how far we have come since those grim days of 1991: • The growth of our economy had fallen to less than one per cent in 1991-92. -
M. A.II Public Economics Title English.P65
HI SHIVAJI UNIVERSITY, KOLHAPUR CENTRE FOR DISTANCE EDUCATION Public Economics (Group C - Compulsory Paper-V) For M. A. Part-II KJ Copyright © Registrar, Shivaji University, Kolhapur. (Maharashtra) First Edition 2013 Prescribed for M. A. Part-II All rights reserved. No part of this work may be reproduced in any form by mimeography or any other means without permission in writing from the Shivaji University, Kolhapur (MS) Copies : 200 Published by: Dr. D. V. Muley Registrar, Shivaji University, Kolhapur-416 004. Printed by : Superintendent, Shivaji University Press, Kolhapur-416 004 ISBN-978-81-8486-474-8 # Further information about the Centre for Distance Education & Shivaji University may be obtained from the University Office at Vidyanagar, Kolhapur-416 004, India. # This material has been produced with the developmental grant from DEC-IGNOU, New Delhi. (ii) Centre for Distance Education Shivaji University, Kolhapur I ADVISORY COMMITTEE I Prof. (Dr.) N. J. Pawar Prof. (Dr.) K. S. Rangappa Vice-Chancellor, Hon. Vice-Chancellor, Karnataka State Open Shivaji University, Kolhapur University, Mansagangotri, Mysore Prof. (Dr.) R. Krishna Kumar Prof. V. Venkaih Hon. Vice-Chancellor, Yashwantrao Chavan Director, Academic Dr. B. R. Ambedkar Maharashtra Open University, Dnyangangotri, Open University Rd. No. 46, Jubilee Hill, Near Gangapur Dam, Nasik Hyderabad-33 Andhrapradesh Dr. A. P. Gavali Dr. J. S. Patil Dean, Faculty of Arts, Dean, Faculty of Social Sciences, Shivaji University, Kolhapur Shivaji University, Kolhapur Dr. C. J. Khilare Dr. R. G. Phadatare Dean, Faculty of Science, Dean, Faculty of Commerce, Shivaji University, Kolhapur Shivaji University, Kolhapur Prof. (Dr.) A. B. Rajge Prof. (Dr.) D. V. Muley Director, B.C.U.D., Registrar, Shivaji University, Kolhapur Shivaji University, Kolhapur Dr. -
World Bank Document
THE WorldBank IN INDIA Public Disclosure Authorized VOL 4 / NO 1 JULY 2005 Two successive World Bank-assisted Leprosy Elimination Projects have helped India reduce its Public Disclosure Authorized leprosy prevalence rate from 2.4 cases per 1,000 people in 1993 to 1.34 per 10,000 in April 2005 Public Disclosure Authorized I N S I D E World Bank helps India fight leprosy 1-4 Bank helps India move towards What is holding back India’s growth 4-5 a leprosy-free future World Bank helps tsunami-hit fishermen welve-year-old Firoze Mohammad is visibly scared as he holds in AP 6-7 Tout his arm for Dr. H. K. Kar to examine. The boy, the son of an Events 8-13 ironsmith from West Delhi, has just had a biopsy done to examine a Recent Project Approvals 14 lesion and is now at the Ram Manohar Lohia Hospital’s Leprosy Clinic New Additions to the for treatment. Dr. Kar is at pains to assure the boy and his mother Public Disclosure Authorized Public Information Center 15 that Firoze will soon be back at boisterous play after a six-month Contact Information 24 medication regimen. Firoze is among the few residual cases afflicted with leprosy that the About the Photograph: national leprosy screening process throws up today. Two successive Young Firoze Mohammed with World Bank-assisted Leprosy Elimination Projects have helped India his mother at a leprosy clinic reduce its leprosy prevalence rate from 2.4 cases per 1,000 people in in Delhi’s Ram Manohar Lohia Hospital 1993 to 1.34 per 10,000 in April 2005.