Need to institutionalise state finance panels: RBI Governor Shaktikanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das (pictured) on Friday said there is a “great need” to institutionalise state finance commissions and helping the local bodies enhance their revenue generation capacities.
 
He said fiscally strong states and Centre is the “essence” of Indian federalism and weakness at either end poses a slew of challenges for the country. “There is a great need to strongly institutionalise the state finance commissions and empower the third tier of governance by enhancing their revenue-generating capacity.” He was speaking at the central bank headquarters before the 17th L K Jha Memorial Lecture, which