15th Finance Commission chairman N K Singh rues lack of fiscal institutions

Says states don't have fiscal flexibility for exigencies as Centre has

N K Singh, chairman of the 15th Finance Commission, on Monday flagged the absence of independent fiscal institutions and lack of flexibility for states to deviate from the fiscal consolidation roadmap in times of emergency.
 
“There is a lack of fiscal institutions in India, it be by your fiscal Council, or by any other institution. While the country has some kind of a fiscal architecture, it does not have independent fiscal institutions,” said Singh during a webinar on India’s Overall Fiscal Architecture, organised by the Centre for Social & Economic Progress.
 
Then, there is this asymmetry of power