IMPRI Desk

IMPRI Desk

Globalizing federal finances is imperative, granting states a larger stake in investment portfolios

As the world continues to globalise, accommodating new geopolitical alignments, technological paradigm shifts, and climate imperatives, the role of governments in their national economies is rising, both through policy and expenditure. In India, of the total government expenditure of 30% of GDP, two-thirds is carried out by state governments (see Table 2.7 of Economic Survey 2022-23, Statistical Appendix), including some spending financed by the Centre.

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