Synopsis Indian states today are reeling under the impact of their economic position–a problem they face due to the ballooning of revenues and fiscal deficits. This has resulted in the debt stock and interest liabilities of almost all the states increasing at a faster rate, not to mention the expenditure system that has been large and constantly on the rise. This book assesses the reform measures states in order to resurrect their finances. The articles in this book cover fiscal reforms initiated by states, the role and the initiatives of the Central government in improving the states finances, and the states experiences in implementing these reforms. This book will be of great help to corporates, public policymakers and researchers.