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One Year of UPA Government
ANC celebrates 73rd anniversary of Indian Air Force
MINISTRY OF TOURISM DECLARED MOST OUTSTANDING TOURISM ORGANISATION IN ASIA PACIFIC REGION
Andaman Nicobar Command celebrates 4th Raising Day
NEW ERA OF FISCAL FEDERALISM
A sound and vibrant system of inter-governmental fiscal transfers is a sine qua non of a flexible and enduring federal polity. Under the Indian Constitution, Finance Commission epitomize the statutory mechanism of effective fiscal federalism. Since 1951, twelve finance commissions have laboured extensively to fine-tune a rational system of center-state revenue transfers in India. Appointed once in five years by the President, the finance commission makes its recommendations based on a detailed assessment of the financial status of the center and the states and after having wide-ranging consultations with other stakeholders.
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