...If it is going to replace the good old Gadgil formula—named after the economic historian D.R. Gadgil who devised it for providing plan assistance to states—as it appears, then it needs to be far more rigorous. The index also needs to have a deeper connection with the history and politics of the fiscal federal system and the transfers that emanate from it. There are five problems with the report. First, its recommendations don’t address the basic issue of the aggregate pool of plan transfers available for distribution among the states. ...........
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