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Fiscal Federalism: Efficiency vs Equity in India

FISCAL FEDERALISM: EFFICIENCY VERSUS EQUITY CONCERNS Syllabus:  GS-2: Centre State Fiscal relation Governance Devolution of Power Why in the News? The 16th Finance Commission (FC-16), chaired by Arvind Panagariya, has submitted its recommendations for the period 2026–2031. While retaining the 41% vertical devolution of Central taxes to States, it significantly restructures grants-in-aid, triggering debate over …

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