The present study examines issues related to fiscal federalism at the third tier in general and grants to local bodies in particular. The study presents a normative framework to estimate the requirements of operation and maintenance (O&M) expenditure at the local body level based on three...

Budget in Brief is designed to summarize the detailed information into an overview comprising essential information about expenditure and receipt and the resulting budget balance.

This note is intended as a brief guide on how the budget papers are organised, and how to find the exact information that a reader wants (expenditure on a particular scheme of interest, or total budget allocation of a ministry, for instance). The Budget papers are accompanied with a Key to the...

Budget presented to Municipal Commissioner

The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past. Again there was the debt crisis of 2010-11. During the worst of the recent financial crisis/Great Recession many observers made comparisons between that event and the Great Depression. The lecture...