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Fiscal Decentralisation

Abstract:

Decentralization of governance is supposed to be efficiency augmenting. It is argued that the local bodies understand better the preferences of citizens of a locality in relation to local public goods. They also better understand the local cost conditions. Since they are large in number, competition among them for resources and skilled personnel is also a source of efficiency. In this chapter, we look at the role of local bodies in India particularly after the 73rd and 74th amendments to the constitution, which have brought into being the second tier of Finance Commissions in the form of state level Finance Commissions. We also look at the views and recommendations of the Tenth, Eleventh and Twelfth Finance Commissions in this regard.


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