#CentreStateRelations
2/3 Fiscal federalism works on trust, predictability, and rules—not negotiation and opacity. When States cannot anticipate resource flows, capital expenditure becomes the adjustment variable, weakening growth and asset quality across the economy.

#FiscalFederalism #CentreStateRelations
BasisPointInsight.com - Fiscal Federalism, Transfers, and the Case for an Independent Anchor by Arvind Mayaram
With discretionary transfers growing and predictability eroding, India’s fiscal federal system needs an independent anchor to restore trust and stability. by Arvind Mayaram, BasisPointInsight.com
basispointinsight.com
January 31, 2026 at 4:38 AM