All governments need to raise and spend money but in India's complex three tier government, the process by which this money is raised and spent is a subject with serious political and constitutional implications.

We are joined by Pranay Kotasthane of the Takshashila Institution to talk about the how money flows between various governments in India and what this means for governance.

In this episode we also refer to YV Reddy and GR Reddy's "Indian Fiscal Federalism"