UPSC Exam > UPSC Questions > Consider the following statements:The functio...
Start Learning for Free
Consider the following statements:
The function(s) of the Finance Commission is/are
1. to allow the withdrawal of the money out of the Consolidated Fund of India.
2. to allocate the shares of proceeds of taxes between the States
3. to consider applications for grants-in-aid from States.
4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.
Q. Which of these statements is/are correct?
The function(s) of the Finance Commission is/are
1. to allow the withdrawal of the money out of the Consolidated Fund of India.
2. to allocate the shares of proceeds of taxes between the States
3. to consider applications for grants-in-aid from States.
4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.
Q. Which of these statements is/are correct?
- a)Only 1
- b)2 and 3
- c)3 and 4
- d)1, 2 and 4
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Consider the following statements:The function(s) of the Finance Commi...
As per Art. 280, the duty of the Finance Commission is to make recommendations to the President on –
1) The distribution between the Union and the States of the net proceeds of taxes and the allocation between the States of the respective shares of such proceeds;
2) the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India;
3) the measures needed to augment the Consolidated Fund of a State to supplement the resources of the – (i) Panchayats in the State and (ii) Municipalities in the State, on the basis of the recommendations made by the Finance Commission of the State;
4) Any other matter referred to the Commission by the President in the interests of sound finance
1) The distribution between the Union and the States of the net proceeds of taxes and the allocation between the States of the respective shares of such proceeds;
2) the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India;
3) the measures needed to augment the Consolidated Fund of a State to supplement the resources of the – (i) Panchayats in the State and (ii) Municipalities in the State, on the basis of the recommendations made by the Finance Commission of the State;
4) Any other matter referred to the Commission by the President in the interests of sound finance
Most Upvoted Answer
Consider the following statements:The function(s) of the Finance Commi...
Explanation:
The Finance Commission is a constitutional body that is responsible for making recommendations on financial matters to the President of India. The primary function of the Finance Commission is to allocate the shares of proceeds of taxes between the Union government and the State governments.
Statement 1:
The function of the Finance Commission is not to allow the withdrawal of money out of the Consolidated Fund of India. The Consolidated Fund of India is managed by the Union government and the Finance Commission does not have the authority to withdraw funds from this fund. Therefore, statement 1 is incorrect.
Statement 2:
The Finance Commission is responsible for allocating the shares of proceeds of taxes between the Union government and the State governments. This ensures a fair distribution of resources and funds among the states. Therefore, statement 2 is correct.
Statement 3:
The Finance Commission does consider applications for grants-in-aid from the States. Grants-in-aid are financial assistance provided by the Union government to the State governments for specific purposes. The Finance Commission examines these applications and makes recommendations on the grants-in-aid. Therefore, statement 3 is correct.
Statement 4:
The Finance Commission does not have the authority to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions. The Finance Commission's role is limited to making recommendations on financial matters and allocating funds between the Union and State governments. Therefore, statement 4 is incorrect.
In conclusion, statements 2 and 3 are correct, while statements 1 and 4 are incorrect. Therefore, the correct answer is option B, 2 and 3.
The Finance Commission is a constitutional body that is responsible for making recommendations on financial matters to the President of India. The primary function of the Finance Commission is to allocate the shares of proceeds of taxes between the Union government and the State governments.
Statement 1:
The function of the Finance Commission is not to allow the withdrawal of money out of the Consolidated Fund of India. The Consolidated Fund of India is managed by the Union government and the Finance Commission does not have the authority to withdraw funds from this fund. Therefore, statement 1 is incorrect.
Statement 2:
The Finance Commission is responsible for allocating the shares of proceeds of taxes between the Union government and the State governments. This ensures a fair distribution of resources and funds among the states. Therefore, statement 2 is correct.
Statement 3:
The Finance Commission does consider applications for grants-in-aid from the States. Grants-in-aid are financial assistance provided by the Union government to the State governments for specific purposes. The Finance Commission examines these applications and makes recommendations on the grants-in-aid. Therefore, statement 3 is correct.
Statement 4:
The Finance Commission does not have the authority to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions. The Finance Commission's role is limited to making recommendations on financial matters and allocating funds between the Union and State governments. Therefore, statement 4 is incorrect.
In conclusion, statements 2 and 3 are correct, while statements 1 and 4 are incorrect. Therefore, the correct answer is option B, 2 and 3.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer?
Question Description
Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer?.
Solutions for Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:The function(s) of the Finance Commission is/are1. to allow the withdrawal of the money out of the Consolidated Fund of India.2. to allocate the shares of proceeds of taxes between the States 3. to consider applications for grants-in-aid from States.4. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions.Q. Which of these statements is/are correct?a)Only 1 b)2 and 3c)3 and 4 d)1, 2 and 4Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup