The Indian economy has made rapid strides in the first 50 years of freedom, achieving food self-sufficiency, creating a strong and diversified industrial base, developing technological capabilities in sophisticated areas and establishing growing linkages with an integrated world economy. This book provides a detailed description and analysis of the evaluation and the present nature of financial system in India. It examines the existing arrangements fore financial transfers, role of finance commission and planning commission to reduce vertical and horizontal imbalances. It also presents an estimate of the savings of the Indian government and its departmental undertakings, gross capital formation and the magnitude of the development and consumption expenditure broken up under broad functional heads.
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