This book is the outcome of the sustained research activities of the authors. It narrows a significant gap between the theoretical and practical aspects of financial administrations, as it analyses and synthesises, simultaneously, financial administration theory and practice.

It examines the Indian financial system whilst covering conceptual areas.

Besides dealing with Tax Administration in India, Ministry of Finance and Centre-State fiscal relations, the book also deals with the types and essentials of budgeting while highlighting the budgeting procedure being followed in India. It covers Finance Commissions, especially the Thirteenth Financial Commission and audit and accounting. The book also gives an explicit explanation of public debt, deficit financing and the monetary and fiscal policy of India.

This updated text, written from students' point of view is presented in a straightforward, precise manner. The concepts are explained and analysed with relevance to contemporary India.