Fiscal Federalism Theory and Practice

Fiscal Federalism Theory and Practice

Humanities and Social Sciences of Saveetha School of Law conducted an invited lecture on ‘Fiscal Federalism: Theory and Practice’ on 23rd August, 2019. Dr.K.Karuppiah, Professor of Law welcomed the gathering in SSL Seminar Hall for the lecture. Prof. Dr. K.Jothi Sivagnanam, Professor and Head, Department of Economics, Chair Person, School of Economics, Madras University delivered the lecture which covered the vertical and horizontal financial transfer in India and the responsibilities of Government in monitoring economy with recent data of Reserve Bank of India. The theory of fiscal federalism assumes that a federal system of government can be efficient and effective at solving problems governments face today, such as just distribution of income, efficient and effective allocation of resources, and economic stability. Economic stability and just distribution of income can be done by federal government because of its flexibility in dealing with these problems. Because states and localities are not equal in their income, federal government intervention is needed. Allocation of resources can be done effectively by states and local governments. At the end of the session resource person given suggestions to control the unnecessary debt and effective planning of revenue and expenditure in India. Dr. K.Kirubagaran, Assistant Professor of Economics proposed vote of thanks and the session was concluded with National Anthem.