Finance is the life blood of any government. Arrangements for finance are more complicated in a federal system, which creates a multiple polity based on divided functions and powers among central, state, and local governments. Fiscal federalism, as a branch of public finance, deals with financial arrangements and their working in a federal polity. In India, fiscal federalism is a subject of topical interest, in view of some recent developments of historical importance. With the passage of two amendments in 1992, panchayats (village councils) and municipalities are now constitutional bodies forming the third tier of the federal polity of India. Furthermore, the Constitution (Eightieth Amendment) Act, 2000 significantly changed the manner of distribution of central tax collections between the central and state governments. Prior to this amendment, income tax and union excise duties were the only taxes shared with the states. This amendment altered the pattern by providing for the sharing of the net proceeds of all union taxes and duties with the states. Spread over 30 chapters, this book provides a detailed description and analysis of the evolution and present structure of fiscal federalism in India. In particular, it contains highlights and a summary of each Finance Commission Report. A detailed note on the National Level Goods and Services Tax (GST) - scheduled to be introduced in April, 2011 - also forms part of the book. It contains time-series data on India's public finances and also includes a glossary of fiscal terms.

Finance Commissions and Fiscal Federalism in India: First Finance Commission to Thirteenth Finance Commission

Business & Money

Sury, M.M.

Economics

New Century Publications

The resource base of a country consists of human resources, non-renewable resources, and renewable resources. Economic planning is concerned with the effective and optimal utilization of the potential resources of an economy. This is particularly so in the context of underdeveloped countries which are striving to raise the standard of living of the masses. In fact, planning is a process aiming not merely at the best utilization of material resources but also at the development of human faculties and institutional framework suitable to the needs and aspirations of the people. In India, the establishment of the Planning Commission in 1950 heralded a new era in the economic history. It makes an assessment of the material, capital, and human resources of the country, and it investigates the possibilities of augmenting these resources as are found to be deficient in relation to India's requirements. It, then, formulates a plan for the most effective and balanced utilization of the country's resources. Part I of this book examines the human and natural resources of India, the principles of economic planning, the institutional framework of economic planning in India, and the assessment of India's experience with economic planning. Part II provides a summary of each of India's Five Year Plans under the following 13 common theme headings: plan at a glance * agriculture and rural development * industry and infrastructure * mineral resources * electricity and other renewable energy sources * urban development and housing * transport and communications * employment and labor welfare * health, family planning, and nutrition * education, training, and skill formation * science and technology * social welfare * balanced regional development. Part III contains sector-wise, time-series statistics on the Indian economy from 1950 to 2010. Part IV of the book comprises glossary of economic planning and a list of English equivalents of select Hindi terms used in Plan Documents.

India: Sixty Years of Planned Economic Development: 1950 to 2010

Mathur, Vibha

The economic development pattern of India during the first three decades after independence in 1947 was characterized by strong centralized planning, government ownership of key industries, excessive regulation of private enterprise, trade protectionism, and a cautious and selective approach towards foreign capital - all guided and controlled by a bureaucracy trained in colonial style. However, in the 1980s, policy makers started to realize the drawbacks of this strategy which inhibited competitiveness and efficiency and produced a much lower rate of growth than expected. After assuming power, the government of Prime Minister Rajiv Gandhi introduced a series of measures to reduce control on industries, particularly large ones. The process of economic reforms initiated in 1985 got a further boost when the government of Prime Minister P.V. Narasimha Rao announced a new industrial policy in the Indian Parliament in 1991. The new policy introduced radical changes "to unshackle the Indian industrial economy from the cobwebs of unnecessary bureaucratic controls." Since the reforms, India's economy has been growing faster than its historical growth rate. On the flip side, India's "moral virtues" - in terms of equity and environment - are falling by the wayside. Of late, India's government has become complacent in introducing further reforms, such as opening up the retail sector to foreigners, implementation of infrastructure projects, flexible labor laws, etc. This book provides a comprehensive account and assessment of reform measures introduced in various sectors of the Indian economy during the last 20 years.

Twenty Years of Economic Reforms in India: 1991-2011

After centuries of subjugation, India had a typically backward economy at the time of Independence in 1947. The country suffered from the twin problems of rampant poverty and widespread unemployment, both making for a low general standard of living. During the formative years after Independence, the development pattern of India was quota, permit and license regime guided and controlled by a bureaucracy trained in the colonial style. In the 1980s, policy makers realized the drawbacks of this strategy. Consequently, economic reforms were set in motion when controls on industries were reduced by the 1985 Industrial Policy. In this newly liberalized industrial and trade environment, the government has progressively assumed the role of a promoter, facilitator and catalytic agent instead of a regulator and controller of economic activities. India is now Asia's third largest economy and has the world's fourth largest foreign exchange reserves. This book discusses how India's gradual and cautious approach to economic reforms has proved well-founded, and it shows how the country is placed on a firm footing for future forays into domestic and global economic activities. [Subject: India Studies, Economic History, Economics, Public Finance]

Twenty Five Years of Economic Reforms in India: 1991 to 2016:A Comprehensive Account and Assessment of Economic Reforms Introduced in Various Sectors of the Indian Economy since 1991

See the best price to sell, buy, or rent books by Sury, M.M.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Sury, M.M.

See the best price to sell, buy, or rent books by Sury, M.M.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Finance Commissions and Fiscal Federalism in India: First Finance Commission to Thirteenth Finance Commission

India: Sixty Years of Planned Economic Development: 1950 to 2010

Twenty Years of Economic Reforms in India: 1991-2011

Twenty Five Years of Economic Reforms in India: 1991 to 2016:A Comprehensive Account and Assessment of Economic Reforms Introduced in Various Sectors of the Indian Economy since 1991