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Both central and state governments have carried out significant correction of financial imbalances since 2000, through the implementation of fiscal reforms including enactment of fiscal responsibility (FR) acts. However, the improvement in the finances of all states in aggregate hides wide...
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transfer) of 15 major states of India. Our empirical result shows that state’s revenue (i.e. tax revenue and indirect tax) and …
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level in India. Prior to the 1996 reform program, the State's budgetary position was under severe stress as in many States … in India. The economic growth was below potential, development of human resources lagged behind the national average, and …, as it is not easy to enlist public support for some of the reform programs in a federal democratic setting as in India …
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