Fiscal Discipline

ToR of 15th Finance Commission: It pays to look beyond the population criterion and work out a performance-based formula

Population has been one of the parameters but has become controversial as it has been interpreted as being discriminatory on account of the change in the base year from 1971 to 2011 for calculating allocations.

Stick to fiscal discipline, spend on infrastructure: Jaitley tells states

Arun Jaitley asked the state governments to spend effectively in such a manner that there is "optimum use of resources without leakages"

Railways battles inflation, incurs higher staff expenses

A strict fiscal discipline enforced by the organisation paid off as the railways will end the current year with a surplus.