India, Feb. 5 -- The first part of this series looked at the rationale and importance of equality in India's fiscal federalism. It also explained how this path has been vitiated by the concurrent issues of demographic and economic divergence among states. This part will explain how FC awards have changed overtime, especially in the more recent past, the role the 16th FC has played in this trajectory and what an ideal fiscal federalism framework could look like going forward.

Published by HT Digital Content Services with permission from Hindustan Times....