Sunday, April 28, 2019


YUVAL  NOAH  HARARI


21 Lessons for the 21st Century  by Yuval Noah Harari ; Published by Penguin; Pages 352 ; Price: Rs 799/-
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Yuval Noah  Harari is a historian from the University of Oxford and  is presently a Professor in the Hebrew University in Jerusalem. He is the author of  two books, “Sapiens” and “Homo Deus”   which have been sold in  millions and also translated into dozens of languages. In the book under review  “21 Lessons for the 21st Century,” Harari creates a useful framework for confronting  fears that haunt mankind. There are chapters on work, war, nationalism, religion, immigration, education and 15 other weighty matters.
 Harari is increasingly touted as not only a man with interesting stories to tell, but rather as an essential thinker of our age, the writer who may come closest to envisioning and possibly solving our collective problems.
He is  one of the most popular non-fiction writers in the world today .The sum total of the arguments that he presents in the new book is that we are living in times when the new norm is "unpredictability" .
  Barack Obama  wrote about the book “Sapiens” that it gave him perspective on “the core things that have allowed us to build this extraordinary civilisation that we take for granted”.
 The book  covers everything from war –  to meditation.The collection of pieces aims to take stock of where humanity has reached, and where it might be going. Ultra-topical concerns such as “fake news” and the rise of authoritarians such as Donald Trump are set in the context of centuries of our biological and social evolution.

All the classic Harari themes are here. There is the  main question, which is here spelled out in a chapter heading. “How do you live in an age of bewilderment, when the old stories have collapsed, and no new story has yet emerged to replace them?” Harari  asserts  that collective myths, such as money and laws, have allowed us to build huge, complicated societies far beyond what our biological limitations might suggest is possible. But in the secular west, religion is fading from public life. And in our globalised world, the idea of a coherent nation-state is threatened. What do we have left to believe in?

How can we protect ourselves from nuclear war and technological disruptions? What are today’s greatest challenges and choices? What should we pay attention to? Are we still capable of understanding the world we have created? What should we teach our children?
The book  makes a compelling reading. Harari’s wide knowledge and deep intellect are evident in his strong claims. It offers interesting insights and ideas to provoke further thinking and find answers.
 Harari sets out to answer some basic questions in the book. In fact, as he himself notes, most parts of the book have been composed in response to questions that readers, journalists and colleagues put to the author.
 Harari weaves a common theme of the need to maintain "our collective and individual focus in the face of constant and disorienting change".
The  book is divided into 21 chapters over 5 Sections and discusses  issues such as religion, nationalism, environment, Artificial Intelligence, social media, data privacy and liberty, among others, that have been subjected to constant changes in the light of recent upheavals. Harari holds that religion can have adverse impact on its followers, but like nationalism, which is threat to globalisation, it too has its uses.
"Does a return to nationalism offer real solutions to the unprecedented problems of our global world, or is it an escapist indulgence that may doom humankind and the entire biosphere to disaster?" he asks, before debunking the challenges of nuclear war, ecological damage, and the technological problems that may surface, or are already surfacing, as a result of rising nationalism.
Harari suggests that religious fundamentalists and bigots too have an agenda at play. Whether it is the Islamic State, North Korean tyrants or Mexican drug lords, all bow before the all-powerful dollar.
Even if one disagrees with Harari's assertions or solutions, the merit of the book lies in opening up the issues in their totality, thereby allowing the reader to pause and contemplate on where we, humanity as a whole, are headed and if we can improve the prospects of our future by altering our actions in the present.

 Harari provides a fascinating insight on war. “Military power cannot go far in the twenty-first century, and that waging a war successful war means waging a limited war,” Harari writes, moving on to talk about countries like Russia, Iran and Israel, which have adopted this strategy successfully.
 Although you will find a few concrete lessons scattered throughout, Harari mostly resists handy prescriptions. He’s more interested in defining the terms of the discussion and giving you historical and philosophical perspective.
The point is that today’s competition among nations — whether on an athletic field or the trading floor — “actually represents an astonishing global agreement.” And that global agreement makes it easier to cooperate as well as compete.
Here’s another worry that Harari deals with: In an increasingly complex world, how can any of us have enough information to make educated decisions? It’s tempting to turn to experts, but how do you know they’re not just following the herd? “The problem of groupthink and individual ignorance besets not just ordinary voters and customers,” he writes, “but also presidents and C.E.O.s.”
What does Harari think we should do about all this? Sprinkled throughout is some practical advice, including a three-prong strategy for fighting terrorism and a few tips for dealing with fake news. But his big idea boils down to this: Meditate. Of course he isn’t suggesting that the world’s problems will vanish if enough of us start sitting in the lotus position and chanting OM. But he does insist that life in the 21st century demands mindfulness — getting to know ourselves better and seeing how we contribute to suffering in our own lives.
Bill Gates writes presciently---“As much as I admire Harari and enjoyed “21 Lessons,” I didn’t agree with everything in the book. I was glad to see the chapter on inequality, but I’m sceptical about his prediction that in the 21st century “data will eclipse both land and machinery as the most important asset” separating rich people from everyone else. Land will always be hugely important, especially as the global population nears 10 billion. Meanwhile, data on key human endeavours — how to grow food or produce energy, for example — will become even more widely available. Simply having information won’t offer a competitive edge; knowing what to do with it will.”
 Harari’s  three  books wrestle with some version of the same question: What will give our lives meaning in the decades and centuries ahead? So far, human history has been driven by a desire to live longer, healthier, happier lives. If science is eventually able to give that dream to most people, and large numbers of people no longer need to work in order to feed and clothe everyone, what reason will we have to get up in the morning?.
An unusual book worth reading carefully.
P.P.Ramachandran
28/04/2019.

Sunday, April 21, 2019



ROBIN  SHARMA


The 5 A M Club by Robin Sharma ; Published by Jaico ;
Pages 314 ;Price Rs.350/-
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Robin Sharma is the founder of Sharma Leadership International Inc., a training firm with only one focus: helping people in organisations lead . Clients include NASA, GE, Nike, FedEx, Hewlett Packard, Starbucks, Oracle, Barrick Gold Corporation, Unilever, Microsoft, IBM, Yale University, TOMS Shoes, The Ritz-Carlton Hotels, and many other FORTUNE 500 companies.
Sharma has been ranked as one of the Top 5 Leadership Experts in the World in an independent survey of over 22,000 business people and appears on platforms with other luminaries such as Richard Branson, Bill Clinton, Jack Welch and Shaquille O'Neal.  
 Sharma is one of the world's premier speakers on Leadership and Personal Mastery. As a presenter, Sharma has the rare ability to electrify an audience yet deliver uncommonly original and useful insights that lead to individuals doing their best work, teams providing superb results and organisations becoming unbeatable. Sharma has published 12 other books, and founded the training company Sharma Leadership International.
 Legendary leadership and elite performance expert Robin Sharma introduced The 5 A M Club concept over twenty years ago, based on a revolutionary morning routine that has helped his clients maximise their productivity, activate their best health and bulletproof their serenity in this age of overwhelming complexity.
Now, in this life-changing book, handcrafted by the author over a rigorous four-year period, you will discover the early-rising habit that has helped so many accomplish epic results .
Through an enchanting—and often amusing—story about two struggling strangers who meet an eccentric tycoon who becomes their secret mentor, The 5 A M Club will walk you through:
• How great geniuses, business titans and the world’s wisest people start their mornings to produce astonishing achievements
• A little-known formula you can use instantly to wake up early feeling inspired, focused and flooded with a fiery drive to get the most out of each day
• A step-by-step method to protect the quietest hours of daybreak so you have time for exercise, self-renewal and personal growth
• A neuroscience-based practice proven to help make it easy to rise while most people are sleeping, giving you precious time for yourself to think, express your creativity and begin the day peacefully instead of being rushed
• “Insider-only” tactics to defend your gifts, talents and dreams against digital distraction and trivial diversions so you enjoy fortune, influence and a magnificent impact on the world
Part manifesto for mastery, part playbook for genius-grade productivity and part companion for a life lived beautifully, The 5 A M Club is a work that is expected to  transform one's  life. 
However ,the book is  a completely blind story of disordered and random characters. You can never understand what the characters are doing and why they are doing that.
You can never understand that why an artist who is reasonably successful in his life is frustrated. Robin Sharma’s sermons and quotations seems to be repeated from the previous books. It's quite awkward to imagine that a big entrepreneur and an artist is taking lecture from a seemingly homeless guy.

 The 5 A M Club is not just a book with some benefits of rising early, but it has a lot more value packed in it. It teaches you how installing a few new habits can change your life for the best.
It teaches you minimalism and how the legends, as well as the elite performers, have been able to accomplish what they have today.
The 5 A M Club is packed with motivation and step-by-step methods to which if learned and understood well and put into execution can transform your life completely.
The 5 A M Club is a fictional tale of 3 people learning to make the most of their time and days by waking up at 5 am each day. While the story is fictional the lessons are not. There are many books out there all touting the benefits of a productive morning ritual and there is a reason they are so popular. This particular story offers a framework perfect for getting started with trying out earlier mornings and is definitely worth a look.
 The sheer number of books about or by successful people (Richard Branson, Michelle Obama, PepsiCo’s recently retired Indra Nooyi) who rise before dawn is staggering – to the point where it seems odd that Sharma is heading down such a well-travelled path for his new book. His argument is that The 5 A M Club is actually the culmination of a concept he has been honing for more than 20 years, which has helped his clients “accomplish epic results while upgrading their happiness, helpfulness and feelings of aliveness.”
The real problems with the book, then, are not his ideas but how Sharma has chosen to present them. He chooses to cloak all this in a fictional story of an entrepreneur and an artist who meet an eccentric, seemingly homeless man (actually a billionaire tycoon), who becomes their secret mentor.
It’s not entirely surprising that Sharma has taken this approach. He did something very similar with his bestselling book The Monk Who Sold His Ferrari, a step-by-step guide to living with “greater courage, balance, abundance and joy” told via the fable of a lawyer battling to make sense of a far from harmonious life.
 It is true that people around the world have loved listening to Sharma talk about The 5 A M Club over the past 20 years. Apparently he has been handcrafting this tie-in book over a “rigorous four-year period”.
The reason behind popularity for  Robin Sharma’s books is simply his authenticity and his attitude towards whatever he does on daily basis.
Now, in this life-changing book, handcrafted by the author over a rigorous four year period, you will discover the early-rising habit that has helped so many accomplish epic results while upgrading their happiness, helpfulness, and feelings of aliveness.
 Quotes from The 5 A M Club:
Take excellent care of the front end of your day, and the rest of the day will pretty much take care of itself.
Let me simply say that the place where your greatest discomfort lies is also the spot where your greatest opportunity lives.

The 5 A M Club Summary Notes:
The most reliable way to generate the best results in your personal and professional life is to build a world beating morning routine.
One of the biggest advantages of joining the 5 A M club is the quiet solitude and enhanced brain state we are in that hour of the day.As the day goes on our mental capacity is drained by all of the things competing for attention, things like work, news, social media.
5 A M in the morning is an excellent time for achieving a state of flow. This can be a result of your brain not needing to stress, worry and analyse anything in the day yet.
Most people are unwilling to get up at 5 and begin their days, by doing so you gain a competitive advantage.
Self-discipline and perseverance always trump talent and giftedness.
Freedom from distraction allows one to focus, simplify and concentrate. It allows you to work on your One Thing
The power in habits is not from the habit itself but in the accumulation of small improvements that consistent practice gives.
To show elite-level mastery of a subject or skill requires approximately 2.75 hours per day of practice each day for 10 years. Getting up earlier is an easy way to get these hours in.
A great outline for your first hour is the 20/20/20 rule. 20 mins to move, 20 mins to reflect and 20 mins to grow.
Robin Sharma could be a leader or a misleader.
Find out for yourself.
P.P.Ramachandran.
21/04/2019.

Sunday, April 14, 2019


SHRI R V S MANI--07/04/2019


Hindu Terror---Insider account of Ministry of Home Affairs  by R.V.S.Mani;Published by Vitasta ; Pages 219;             Price Rs.495/-
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RVS Mani, the author of the book under review, was a Home Ministry Official, who   reveals how  the narrative of Hindu Terror was manufactured. He exposes  the origin of Saffron Terror. Mani was part of the Internal Security (IS) department during the UPA era. The country faced several internal security threats during that period and witnessed one of the worst terror attacks on the country. According to his  account, the  UPA era witnessed several   serial blasts and terrorist attacks, including the 26/11 Mumbai terror attacks which shook the entire nation. Mani writes that officers were under immense pressure as they had only two conflicting choices, either to save their job or protect their country. In his book, he states that narratives which were promoted between the periods of 2004 to 2013 had the capacity to tear apart the social fabric of India. He backs his claim by providing official records, evidence, examples and incidents. He has directly named several officials and politicians in the book and provided detailed insights into their workings. He has been targeted several times by his colleagues for not following immoral and unethical orders. He has also appreciated the good work of several officers who eliminated the enemies of the country like former IB officer Rajesh Kumar.
A Chapter titled “Seeding of Hindu terror” lays special emphasis on how UPA’s political leadership forced MHA officials to manufacture the fake narrative of Hindu Terror. In 2006, first seed of Hindu terror was sown.  Mani writes, “At a time when we had the best team in the IS division, the attitude of the government in power and intent to cover every terror incident as ‘saffron’ and the ambivalence in acting against the real perpetrators of the terror attacks was making this country a cannon fodder for those with evil designs against India”. He recalls an incident when the then Home Minister called him into his office to share information about terrorist attacks. Two more people were also present there, Digvijay Singh and former Maharashtra IPS Hemant Karkare. As he began to share information about the terrorist, the other two members who were present in the office were ‘sad’ because the most number of terrorist attacks were carried out by the members of only one particular religion.
 He has written about Mumbai 26/11 attacks at great length and also named IAS, IPS officers and many big politicians and their lax attitude. He supports his claims with evidence and examples. When the investigation after the attack started, it was found that intelligence had already provided several credible inputs about the plan to carry out a terrorist attack on Mumbai but Ministry of Home Affairs did not pay any heed to those inputs.
Mani devotes an entire  chapter to P.Chidambaram. According to him, NIA under Chidambaram, “overlooked the first set of evidence and replaced it with the evidence supporting the Hindu terror narrative.” He has claimed that NIA officers who were involved in the investigation of terror cases have off the record accepted that there is no evidence of any sort of Hindu Terror. Mani has made many  shocking revelations in his book. One is that  political quarters were against giving  any hardcore evidence against Dawood Ibrahim to the United Nations.
When  P Chidambaram  took charge he  ostensibly established more stringent measures to counter terror. Two new security bills were passed and the National Investigation Agency (NIA) was set up. But, as the author reveals: “it was amply clear that under the garb of new initiatives, the new Home Minister had pulled wool over the nation’s eyes.” All procedures were violated as the Minister went on to appoint his own man as the Director-General of NIA who in turn built his team with men handpicked from Kerala or Kashmir. The author recounts that the sole aim of NIA throughout 2009-2010 was to strengthen the non-existent Hindu terror concept by any means possible. The “first set of evidences” were being “overlooked” and replaced with evidences supporting the “Hindu terror narrative”, and yet no one  could stop this farce. 

The mainstream media has maintained a stoic silence about the explosive content of this book. The author recounts how he was summoned to the office of the Home Minister in 2006 to furnish details of investigations at which point he realised that his political bosses were not happy with the information that “a particular religious group was involved in most of the terror attacks.”
The book outlines the procedure adopted  with regard to investigating the blasts in Malegaon. Preliminary enquiries  pointed to “an extremely orthodox Islamic group known as Ahl-e-Hadith .” When Karkare took charge of the case, the narrative was changed to incorporate Hindu organisations as prime suspects. The author explains how it typically took five to six months to identify perpetrators of various terror attacks. This included the time to complete rigorous procedures, obtain clearances and various other activities in order to ensure that the right persons were arrested. But, in the Malegaon case it took just 35 days for Karkare to determine that Malegaon was the “handiwork of Hindu terror groups, although the field level police personnel of the range continued to report that Ahl-e-Hadith was involved”. A similar approach was taken to various other cases including the Samjhauta Express blast, Ajmer Sharif blast and Batla House encounter.
Mani declares, “At a time when we had the best team in the IS division of the MHA, the attitude of the government in power and intent to colour every terror incident as “saffron” and their ambivalence in acting against the real perpetrators of the terror attacks was making this country a cannon fodder for those with evil designs against India.”
 The author reveals how intelligence inputs about a possible coastal attack were ignored due to interventions by someone from the topmost political office. Also, despite the overwhelming evidence of Pakistan’s involvement in the Mumbai terror, there were attempts to play down the role of Pakistan even from the Indian side. A failed effort to kidnap the author led him to clues about a plan to trade an officer of the MHA for Ajmal Kasab so that the terrorist would not be interrogated and his Pakistani citizenship would not be established.  RVS Mani  faced a kidnapping plot against him from the insiders of India's security agencies and was stabbed by burning cigarette buds to establish various notorious narratives to score cheap political points.

Another interesting aspect that is disclosed in the book is that unlike what is portrayed in public discourse, the US gave direct access to NIA to question terrorist David Headley . Headley cooperated with both the US and the Indian authorities. The MHA led by Chidambaram received the entire report of the investigating team, however his office “excised portions of the Headley testimony to NIA” before submitting them to courts.
The author reflects that while “the top brass intervening in the regular security procedures would never be exposed before the public, the intelligence and security establishments would be blamed for abject failure although they had done their professional work in an exemplary and outstanding manner.”
The author has personally paid a heavy price for deposing in the Ishrat Jahan case. Enormous pressure was put on him to testify that there was no encounter in the case and that an “innocent” Muslim girl was framed as a terrorist involved in a plot to assassinate the Chief Minister of Gujarat.
On 20 July 2010, then Prime Minister Dr Manmohan Singh hosted a lunch in which US ambassador Timothy Roemer asked Congress president Rahul Gandhi about 'Lashkar-e-Taiba's activities in the region and its immediate threat to India'. Wikileaks cables reveal that Rahul Gandhi responded by saying that 'the bigger threat may be the growth of radicalised Hindu groups'.
Mani reveals that there is a strong indication that somewhere high in the portals of power there was an attempt to portray even the 26/11 Mumbai attacks as the work of the so-called Hindu terror despite substantial evidence of Pakistan-based terror outfit executing the massacre.
P.P.Ramachandran.
07/04/2019.





THOMAS ON THOMAS

The Story of PJ Thomas—An Unsung Economist  by EM Thomas ; Published by Academic Foundation ; Pages 190; Price Rs 895/- 
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Dr.EM Thomas, the author of the book under review is a Faculty Member of the Inter-University Centre for financial economics and financial engineering in the University of Calicut. He is the author of 12 books and a large number of articles. He has specialised on decentralised planning from the  University of Belgrade.
The subject of this book—Dr.PJ Thomas was the First Economic Adviser for the Government of India. He was deputed to sign on behalf of India the vital document of the League of Nations. He donated all his wealth for welfare measures like Health Care and Education for the downtrodden of Kochi. He was a scholar, a parliamentarian  and a writer who played an important role  in the fledgling nation’s history, both before and after Independence.
Thomas strode like a colossus in economic thinking before India became free. He proved prophetic in his observations on several subjects—General Sales Tax, Population Growth, Rural Employment, Land Reforms, Green Revolution, Local Self-Government, Cooperatives and Rural Indebtedness.
Dr.Thomas played a crucial role in our country’s development.He was Professor in the Madras University for 15 years.He was the first Economic Adviser in the Finance Ministry of free India.He participated in the International Conferences which culminated in the birth of the IMF  and the IBRD. His most important book was            “ The Growth of Federal Finance in India  1833—1939” which was published in 1939.
The book under review is the product of 15 years of painstaking research. PJ Thomas began his teaching career in the University of Ceylon where he was Professor of Economics. C.Rajagopalachari, then Prime Minister of Madras made him his Economic Adviser. He earned a name by implementing India’s first prohibition in Salem. To make up the loss to the Exchequer created by prohibition Thomas devised a General Sales Tax System—introduced for the first time in India.
Rajaji nominated him to the Madras Legislative Assembly. A few years later, the Chief Minister of Kerala, Shri.E.M.S.Namboodiripad nominated  him as a member of the Rajya  Sabha. History has recorded that Thomas helped the Kerala State to climb up the ladder.
Thomas argued that India’s greatest wealth is its large population and that it was our duty not only to control birth but take effective steps to enhance health of the people and increase the productive efficacy of our population.
Thomas stood for  legislative measures to tackle the problem of inequality in the distribution of land and productive resources. He had suggested this three decades before the actual land reform legislation made by the Kerala Legislative Assembly in 1957.
Thomas thoroughly studied the problem of farmers’ debts.He compared the debt-ridden community to a volcano and concluded that it would weaken the growth of the country and promote communal clashes and even engender revolutions. The solution he suggested was the introduction of cooperative society and the rationing of credit among farmers.
In a  paper "The Trend of International Trade" the economist proved  that ‘ thoroughgoing free trade is for the time being a thing of the past.Its advantages still remain.But the rest of the world pursued a policy of arrogant nationalism, not even the most powerful nation in the world can afford to maintain a purely free trade policy.’He suggested a policy of regional grouping of similarly situated developing countries to reap maximum gains from trade.
Thomas was always against devaluation of the Indian currency. In his view,devaluation may give relief in certain circumstances but it must be accompanied by other measures like extensive public works, readjustment of production, control of prices and various other controls.
The much flaunted NREGA has its seeds in a paper written by Thomas entitled, ‘A Plan for Recovery’.
Thomas was convinced of the need and scope of the cooperative movement. He believed that the development and growth of rural India is based on the three pillars of society, viz.,---the Village School, the Cooperative Society and the Village Panchayats. The inclusive growth strategy of the present Government will get full meaning if it is based on the three pillars suggested by Thomas years ago.
In his brief Foreword, Dr.C.Rangarajan, the ex-Governor of RBI writes, "It is important that the current generation must be fully aware of the pioneering contributions made by the economist at the dawn of Independence. They had laid strong foundations.PM Thomas deserves to be remembered by the present generation. The author EM Thomas has made available to all of us the quintessence of the contribution of the “ Unsung Economist Dr.PJ Thomas.
The book will be useful for all research workers, students of economics, policy makers and those interested in federal finance.
P.P.Ramachandran.
14/04/2019.

Tuesday, April 2, 2019



DR.Y.V.REDDY


Indian Fiscal Federalism by Dr.Y.V.Reddy and Dr.G.R.Reddy ; Published by Oxford ; Pages 274; Price Rs. 695/-
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Y V Reddy was Chairman, Fourteenth Finance Commission  and Governor, Reserve Bank of India . He belongs to the Indian Administrative Services  and was Secretary ,Finance and Planning in the Government of Andhra Pradesh and Secretary in the Union Ministry of Finance.
 The co-author Dr.G R Reddy is Adviser (Finance) to the Government of Telangana and belongs to the Indian Economic Service . He served the Government of India and the Government of Andhra Pradesh mainly in the area of public finance and Union-State relations. He was Adviser to the Thirteenth Finance Commission.
According to the authors fiscal federalism can be viewed as a game in politics, economics and public finance played by the Union and the States. It can also be seen as an interplay of ideologies, beliefs, intentions or objectives, institutions and instruments. This study attempts to show where fiscal federalism stands now in India.
Our Constitution mandates the appointment of a Finance Commission once every five years by the President to resolve the vertical and horizontal imbalances in the economy. The Government has been exercising its freedom to transfer beyond what is recommended by the Finance Commission.
Over the years there has been increasing attempts  to influence the recommendations of the Finance Commissions  with directives  nudging it towards adopting asymmetric approaches in the treatment of the centre and the States.
A large part of the book deals with the working of  the various Finance Commissions and their recommendations. A separate chapter is devoted to the controversial “Terms of Reference” of the Fifteenth Finance Commission.
There are a number of instruments available to manage the vertical and horizontal imbalances—and these include Tax Devolution, Grants on the recommendations of the Finance Commission and Loans and Grants by the Union to the States.
The most significant institutional innovation in the History of Fiscal Federalism in India is the  Goods and Services Tax Council( GSTC)—a wholly new constitutional body.
The authors declare,  “We have every reason to be proud of our success in the practice of fiscal federalism as it has evolved over the years. But in recent years there are some developments of what they describe as “ fiscal federalism being at the crossroads.”
Decisions regarding the major indirect taxes are now decided jointly by the Union and the States through the mechanism of GSTC, where the Union has a de-facto vote. This marks a significant erosion of the fiscal autonomy of States. The Planning Commission which played a crucial role has been wound up in  2014 and replaced by the Niti-Aayog. The NDC has been replaced. The distinction between Plan and non-Plan  has been abolished. The Terms of Reference of the Fifteenth Finance Commission not only reverse the recommendations of the earlier Finance Commissions but give greater discretion than ever before to the Union Government. States have resented these measures which they perceive as intrusion of the Centre into their domain. It is felt that a co-operative and competitive federalism is being replaced with coercive federalism.
Indian fiscal federalism is continuously evolving and changing. The book explores how India has coped with these changes, how institutions such as the Finance Commission have adapted to these changes and how Indian fiscal federalism has stood the test of time. The authors present the broad contours of a way forward that could simultaneously address institutional as well as policy challenges.

The Government of India Act 1919 and 1935 formalised the tenet of fiscal federalism and revenue sharing between the Centre and the states, aimed at enhancing political, economic and administrative efficiency, and granting increased autonomy to the provinces of India.

There have been several changes and evolution in India’s fiscal federalism since then. The 14th Finance Commission chaired by Dr. Y V Reddy, recommended a historic 42% devolution of revenue to the states, the highest ever till date. Goods and Services Tax was introduced in 2017 to streamline India’s indirect tax structure as a measure to promote cooperative federalism in India, giving the States an enhanced role in formulating and implementing the overhauled taxation system. The NITI Aayog established in 2015 was expected to address new realities of macroeconomic management that were missed by the Planning Commission.
A set of events over the last few years have changed the balance of power between the Central and State Governments. These developments, when taken together, suggest that ‘Fiscal Federalism’ is at a crossroad in India. This book discusses various dimensions of Indian fiscal federalism, focusing on the current fiscal imbalances – both vertical and horizontal – and their correction.
   Recent initiatives in fostering co-operative federalism have opened new chapters of co-operation between Centre and States. The GST Council is functioning on the principle of shared sovereignty. As the authors  point out  the sacrifice of fiscal autonomy at both levels of government in favour of the Council needs to be seen as a ‘trade-off’  so as to reap the benefits of tax harmonisation. The Indian model of GST preserves the essence of Indian federalism. India is, however, a Union of States in which both the Union and the States have to be fiscally strong. While this issue has to be addressed by the Finance Commission, the challenge for the GST Council now is to realise the full potential of GST for enhancing tax-GDP ratio and work on other areas of our economy to enhance its competitiveness.
  There is now general agreement in the country about the importance of fiscal consolidation road map both at national and sub-national levels. While adhering to fiscal deficit targets and debt to GDP ratios, it is equally important to undertake robust expenditure planning based on a ‘commonly agreed expenditure code’ to address the socio-economic challenges without diluting the goals of fiscal consolidation.
According to the authors, the instruments available to the Finance Commission are often inadequate to cater to the tasks and considerations assigned to it. There is a need to redefine objectives and restrict the scope of its work appropriate to the instruments available to it. The Union Government has a dominant role in this regard.
The Niti Aayog suffers from a wide mandate and diffused focus. The organisation should ideally be the focal point for all transfers from the Centre to the States outside the Finance Commission’s  recommendations. It requires significant technical support from experts, and at the same time, substantial political support. 

The book presents an integrated view of all major developments in the area of fiscal federalism with a historical perspective  in  particular the interplay and overlap of institutional mechanisms. It examines persistent as well as immediate concerns, and offers a way forward. A contemporary, timely, and comprehensive analysis of fiscal federalism in India, this practitioners’ perspective is a must-read for all those interested in the subject.

 The book is replete with a number of tables giving a wealth of data. The volume will be of great interest to research scholars and policy makers alike.  Without doubt the book is a valuable addition to the literature on Fiscal Federalism.
P.P.Ramachandran.
31/03/2019.