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Synopsis The teaching of state finance is carried out at all levels from the undergraduate to the postgraduate degrees in economics, commerce, finance and management. This subject remains area of unceasing interest and debate to the general public as well as finance officials, especially in states of India. All problems and propositions of control of state finance during the last fifty years are explained and illustrated with requisite facts and data. The information contained in this text is gleaned from recognised resource. The entire corpus of the finances of the centre, the states and union territories during last fifty years comes into bold relief, both analytically and empirically. In this text, the presentation is marked by a style displaying maturity of writing and bristling with the lucidity and simplicity of the language used by the author.