(Co-authored with Sri Hari Nayudu A.)

India’s federal structure is under stress on several grounds, particularly tax devolution between Centre and states, and among states.  Finance Commissions play a critical role in the devolution process. However, a drawback in their approach has been the absence of an adequate ...

The Union Budget 2025-26 aims to balance fiscal consolidation, growth, climate change commitments, and the challenges of demographic transition. Key focuses include green bonds, climate fiscal instruments, boosting female labour force participation, and addressing the care economy and digital infrastructure needs.