Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

Hemlata rao

Abstract

There are three main approaches to federal fiscal transfers based on-equity, allocative efficiency and growth and stability. The 'equity' objective in general has been endorsed by a large number of federal experts. This objective assumes more importance in a developing federation which has to face the problems of competing claims by deferentially developed states and various other problems.

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Hemlata Rao

Abstract

SINCE 1951 when the concerted efforts for planned economic development were intensified in India, the problems of regional imbalances attracted much attention. As early as 1956 when the Second Five-Year Plan was formulated the problem of regional disparity was specifically noted and it was stressed that in any comprehensive plan the special needs of the less developed regions should receive due attention and the pattern of investment must be so devised as to lead to balanced regional development.

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