Ever since the Government of India initiated the process of economic reforms in 1991, financial difficulties of the Indian states have been on the increase. Today, most of the states face a resource crunch that is set to become more acute with every passing year. Large and persistent budget deficits and the fast-growing debt burden are threatening their financial autonomy. Against this scenario, these states are frantically looking for new ways of working, cutting down costs and augmenting their revenue income. Coming out in an hour of need, this book suggests how Indian states can effectively mobilise additional resources and avoid falling into a debt trap. As the possibilities of new taxation are very limited, it focuses on generating additional revenue by controlling tax evasion and tax avoidance. Concrete examples are given to show that state tax revenue can be increased without a corresponding increase in the tax burden. This book is useful not only for the taxman and managers of state finances across the country, but also for students, teachers, researchers and the entire thinking community interested in the financial affairs of the Indian states. It also aims at educating public opinion for better tax compliance and more productive and efficient use of public debt.
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