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What is the primary implication of Vertical Fiscal Imbalance (VFI) in the context of Indian federalism?a) States have a surplus of revenue that exceeds their expenditure needs.b) States collect more revenue than they are responsible for spending.c) States rely heavily on transfers from the Union government to meet their financial obligations.d) States have complete autonomy in managing their finances without federal intervention.Correct answer is option 'C'. Can you explain this answer? for CUET Commerce 2024 is part of CUET Commerce preparation. The Question and answers have been prepared according to the CUET Commerce exam syllabus. Information about What is the primary implication of Vertical Fiscal Imbalance (VFI) in the context of Indian federalism?a) States have a surplus of revenue that exceeds their expenditure needs.b) States collect more revenue than they are responsible for spending.c) States rely heavily on transfers from the Union government to meet their financial obligations.d) States have complete autonomy in managing their finances without federal intervention.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CUET Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary implication of Vertical Fiscal Imbalance (VFI) in the context of Indian federalism?a) States have a surplus of revenue that exceeds their expenditure needs.b) States collect more revenue than they are responsible for spending.c) States rely heavily on transfers from the Union government to meet their financial obligations.d) States have complete autonomy in managing their finances without federal intervention.Correct answer is option 'C'. Can you explain this answer?.

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