Attaining financial self sufficiency has never been an important agenda for the Panchayati Raj Institutions (PRIs) for the states in India. It has, in fact, performed more as an instrument of expenditure decentralization instead of functioning as a driver of financial decentralization. Quite...

This article discusses the objectives of the Finance Commission of India since inception, within the ambit of critical issues in public finance. Amidst increasing political tensions between the central and state governments in India and waning trends in single party majority at the Centre, the...