FISCAL FEDERALISM AND URBAN LOCAL GOVERNANCE IN INDIA: A CONSTITUTIONAL ANALYSIS OF THE CENTRAL AND STATE FINANCE COMMISSIONS UNDER THE TWELFTH SCHEDULE

FISCAL FEDERALISM AND URBAN LOCAL GOVERNANCE IN INDIA: A CONSTITUTIONAL ANALYSIS OF THE CENTRAL AND STATE FINANCE COMMISSIONS UNDER THE TWELFTH SCHEDULE Nishtha Singh, LL.M, 1st Year Student at Amity University Lucknow Campus, (India). Download Manuscript doi.org/10.70183/lijdlr.2026.v04.36 India’s constitutional framework of fiscal federalism seeks to balance national unity with decentralised governance by distributing financial powers India’s constitutional framework of fiscal federalism seeks to balance national unity with decentralised governance by distributing financial powers among the Union, States, and local self-government institutions. The enactment of the Seventy-Third and Seventy-Fourth Constitutional Amendments marked a decisive shift by constitutionally recognising Panchayats and Municipalities as institutions of self-government and by introducing the Eleventh and Twelfth Schedules.