Critically evaluate two Centre-State financial relations.

Question

18 Apr 2024

Answer :

Word Count : 636

Center-State financial relations in India are complex and critical for the functioning of the country's federal structure. Two key aspects that deserve critical evaluation are the distribution of taxes and the mechanism of fiscal transfers between the Center and the States.

1. Distribution of Taxes:

a. Goods and Services Tax (GST): GST marks a significant shift in India's taxation system by subsuming various indirect taxes levied by the Center and the States. It aims to create a unified national market and streamline tax administration. However, the GST regime has been subject to criticism regarding its impact on State finances. While the GST Council, comprising representatives from both the Center and the States, decides on tax rates and administration, there have been instances where States have felt sidelined in decision-making. The revenue-sharing formula under GST, particularly the mechanism for compensating States for any revenue shortfall, has been a contentious issue. The COVID-19 pandemic further exacerbated the revenue challenges ______ ______ _________ _____ _________ ______ __________ ______ _____ ___.
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