What are the different modes of transfer of funds from the centre to the states?Discuss
Answers
There are several tiers of government with special power and obligations established by the Indian Constitution. Taking into the record the amendments made so far the Constitution grants for three layers of the management: Central, State and Local.
In order to transfer out its liabilities, the management at each level has been selected powers to impose taxes on individuals and corporations based on standards such as revenue, investment, production, and certain financial transactions.
The significant source of revenue for the central government is central excise, income tax, and customs charges. On the other hand, there is a great list of tasks allocated to the states which include prices on alcoholic beverages, gardening income, and land but the important source of tax sources for the states is the sales tax.