Archive | September 2016

News for September 23, 2016


Important News from The Hindu:

News for September 22, 2016


Important News from The Hindu:

News for September 21, 2016


Important News from The Hindu:

News for September 20, 2016


Important News from The Hindu:

News for September 19, 2016


Important News from The Hindu:

India’s fiscal policy architecture | Implications & Trends


The comprehensive framework of India’s fiscal policy has been provided in the constitution of India. The powers to levy taxes and spending responsibilities of India has been divided between the central and the state government due to its federal form of government. Since, it is not mandatory that the taxing capabilities of the states are adequate as per their spending responsibilities, it is due to this reason that some of the revenue of the central government needs to be assigned to the state government. The Indian constitution therefore, provides for the formation of a Finance Commission every five years so as to provide the basis for this assignment and give medium term guidance on financial matters. On the basis of the report of the Finance Commission, the central taxes are transferred to the state governments.

fiscal

For every financial year, both the governments, i.e.centre and state has to place a statement of its future taxing and spending provisions before the legislature for legislative debate and approval which is known as budget as per the Indian constitution.

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News for September 18, 2016


Important News from The Hindu, Live Mint & Indian Express

News for September 17, 2016


Important News from The Hindu

News for September 16, 2016


Important News from The Hindu