Chakraborty, Lekha creator text Economic & Political Weekly monographic eng

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61(14), Apr 4, 2026: p.50-56 The Union Budget 2026–27, presented alongside the Sixteenth Finance Commission’s recommendations, represents a critical juncture in India’s fiscal federalism. An examination of the federal implications across key dimensions of Union Budget 2026–27, including the fiscal consolidation paths for the union and the states, tax devolution dynamics, power sector reforms and the calculus of consent in the subtle targeted sectoral announcements, is thus the focus of this article. –Reproduced https://www.epw.in/journal/2026/14/budget-2026-27/fiscal-consolidation-and-federalism.html Economic & Political Weekly 260430