FCI averages five normalised components: share of cesses and surcharges in gross central tax, gap between recommended and actual devolution to states, share of conditional transfers, states' own tax revenue as % of GDP, and overall state dependency on central transfers.
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This is one of 36 standing analyses drawn from the Some Perspective dataset. It is not dated commentary: it describes a relationship in the data that holds across the series, and it is regenerated whenever the underlying dataset is refreshed. The figures quoted here reflect the 2026-08-15 data vintage.