D. Subbarao: Formula-Based Adjustments Needed To Resolve North-South Divide

Former RBI Governor D. Subbarao delves into the intricate dynamics of the "North vs South" debate, highlighting its political and fiscal facets. He emphasizes the crucial role of enlightened leadership at both central and state levels in addressing the complex issue of tax pool distribution. Subbarao advocates for formula-based adjustments as the path to resolving the north-south disparity, cautioning against abrupt delimitation and advocating for a phased approach instead. Subbarao underscores the imperative of fostering unity and prosperity for India as a whole.