00978pab a2200145 454500008004000000100001900040245009900059260000900158300001400167362001100181520055600192650003100748650001900779773003400798180718b2003   xxu||||| |||| 00| 0 eng d  aGurumurthi, S.  aIssues before 12th Finance Commission: review of vertical and horizontal system of tax sharing  c2003  ap.648-55.  a15 Feb  aThe system of vertical tax devolution from the centre to the states has undergone a major change consequent upon the amendment of the Constitution in August 2000.  It will be necessary for the Twelfth Finance Commissionto review the new arrangement. This paper discusses theissues which the Finance Commission may have to examine in the course of such a review. The author looks at the background to the changeover to the new system and discusses issues related to both vertical devolution and horizontal redistribution among the states. - Reproduced.  aTwelfth Finance Commission  aPublic finance  aEconomic and Political Weekly