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What is true regarding sources of revenue in a federal system?
(i) States have no financial autonomy
(ii) States are dependent for revenue or funds on the central government.
(iii) Sources of revenue for each level of government are clearly specified to ensure its financial autonomy.
(iv) States have no financial powers or independent sources of revenue
Key Concept - Sororces of revenue in Federal System
As all the level of governments whether central, state or
in local, have to discharge different duties independently
Hi. \( 5: \) therefore each has a financial autonomy.
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