Fiscal Administration

Constitutional Framework around Fiscal Policy in India

December 2, 2015

The overarching framework for India’s fiscal policy is provided by the constitution. This framework is made of: Article 246, Article 248 (residuary power of taxation) and Seventh Schedule Article 280 provision for Finance Commission Article 112 and other articles related to Budget Part IX and IX-A (local...

Objectives and Instruments of Fiscal Policy

December 2, 2015

The word fiscal comes from a French word Fisc, which means treasure of Government. All the taxation and expenditure decisions of the government comprise the Fiscal Policy. Fiscal Policy is different from monetary policy in the sense that monetary policy deals with the supply of money and...

Kautilya’s System of Tax Administration

November 23, 2015

Kosha Moolo Danda, which means ” revenue is the backbone (of administration)” is sourced from Kautilya’s Arthshastra Part 8, Chapter 1. This implies that a nation’s status relies upon its fiscal power. He expressed that the Government’s power had source of treasury. This verse is used in...