Financial Administration in India: Changing Contours and Emerging Challenges

It has been the Sovereign’s right to raise revenues to run the administration. With democratic spirit pervading the world’s nation-states, this right is more a privilege because of consent of the governed since acceptance of the dictum "no taxation without representation". Keeping this thinking as backdrop, though not consciously, the papers presented at the National Seminar on "Changing Contours of Financial Administration in India: Emerging Challenges" contain the desirable overload of "general welfare", "welfare of the deprived sections of society" and, in added measure, the direction of the domestic economies are taking to globalize all economic activities, more particularly the trade and services, knowledge technology and capital. It is because of the above emerging trends that financial administration has undergone a sea change ever since India’s Independence in 1947. The liberalization and privatisation processes in the economy since 1991 have changed the whole spectrum of the concepts and practices of revenue and public finance in India. With this change in thinking, direction and approach, change also must now impact the way the Government garners and deploys its financial resources. It is more apt in this regard that the theme of the book makes a significant contribution by bringing together on single forum the rich experiences and innovative thoughts of the contributions to this volume. This volume consists of the papers presented at a National Seminar on "Changing Contours of Financial Administration in India: Emerging Challenges" held at the ICSSR Complex, Panjab University, Chandigarh. The seminar was organized, jointly by the Indian Council of Social Science Research, North-Western Regional Centre and Senior Citizens’ Council for Human Resource Development, Chandigarh. The contributors include senior level functionaries from the Ministry of Finance, Civil Services, Comptroller and Auditor General of India, Reserve Bank of India and Senior Professors from the Universities, apart from those who have retired but have held highly responsible positions in Government or other organizations. The readers, students and researchers will be immensely benefited by this volume because all aspects of Revenue and Public Finance have been dealt with alongwith meaningful and fearless criticisms and suggestions.