Fiscal incongruence: How states and the Centre are failing to come to an agreement over resources


The Centre has been looking for extra management over states’ fundraising, as detailed in its memorandum to the fifteenth Finance Commission (FFC). I


Underlying the procedural lapse and its penalties for the finance minister is a much more vexed challenge of the fiscal compact between the Centre and states coming beneath extreme pressure due to income disruption.

Kerala’s Finance Minister Thomas Isaac is a beleaguered man. For the first time in the state’s historical past, a minister had to face the Privileges and Ethics Committee of the meeting to clarify accusations of a breach of privilege. Isaac had to clarify why he revealed to the media contents of a Comptroller and Auditor General report that termed a overseas borrowing underwritten by the state as unconstitutional. The minister had publicly slammed the

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