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There is very little to disagree about the desirability of transitioning from the current decision process to that of a Monetary Policy Committee, imparting as it does a greater diversity of views, specialised experience and independence of opinion. In addition, in line with the philosophy of FSLRC, process is at the centre of the change, and is one of the key reasons behind the formation of an MPC. The controversy which was generated related to the composition of the MPC's members.
Handing over a greater amount of central taxes to states makes immense sense. Nevertheless, it makes things difficult for the central government. With the centre having to share more taxes with states, it leaves it with a lesser amount of money.