This study is an outcome of the larger research project, "A Study oflntergovemmental Fiscal Transfers in India", supported by a grant from the International Development Research Centre (IDRC), Canada, under the Think Tank Initiative.
The report using state budgets of 2017-18 examines the likely impact of some of the recent policy changes on the finances of state governments. The central theme of this report is the impact of power sector debt - UDAY on State finances. This study was led by Professor Pinaki Chakraborty. The other members of the team are Dr. Lekha Chakraborty, Dr. Manish Gupta and Ms. Amandeep Kaur.