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As per the Constitution, the Finance Commission is appointed every five years and consists of a
- a)Chairman and four other members
- b)Chairman and five other members
- c)Chairman and six other members
- d)Chairman and seven other members
Correct answer is option 'A'. Can you explain this answer?
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As per the Constitution, the Finance Commission is appointed every fiv...
The Finance Commission of India came into existence in 1951. It was established under Article 280 of the Indian Constitution by the President of India. It was formed to define the financial relations between the centre and the state. The Finance Commission Act of 1951 states the terms of qualification, appointment and disqualification, the term, eligibility and powers of the Finance Commission. As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members. Since the institution of the first finance commission, stark changes have occurred in the Indian economy causing changes in the macroeconomic scenario. This has led to major changes in the Finance Commission’s recommendations over the years. Till date, Thirteen Finance Commissions have submitted their reports.
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As per the Constitution, the Finance Commission is appointed every fiv...
The correct answer is option 'A': Chairman and four other members.
Explanation:
The Finance Commission is a constitutional body that is appointed every five years in India. It plays a crucial role in the distribution of financial resources between the Union government and the State governments. Its main function is to recommend the distribution of tax proceeds between the Union and the States, and also among the States themselves.
Composition of the Finance Commission:
The Finance Commission consists of a Chairman and other members. The exact number of members can vary from one commission to another. However, as per the Constitution, the Finance Commission is generally composed of a Chairman and four other members.
Role of the Chairman:
The Chairman of the Finance Commission is appointed by the President of India. The Chairman holds an important position as the head of the commission. They are responsible for leading the discussions, decision-making, and formulation of recommendations.
Role of other members:
The other members of the Finance Commission are also appointed by the President of India. These members work closely with the Chairman in analyzing financial data, studying the fiscal situation, and formulating recommendations. They provide valuable inputs and expertise in the decision-making process.
Importance of the Finance Commission:
The Finance Commission plays a crucial role in maintaining fiscal federalism in India. Its recommendations have a significant impact on the financial resources available to the Union government and the State governments. The distribution of tax proceeds among the Union and the States is done based on the recommendations of the Finance Commission.
Conclusion:
In conclusion, as per the Constitution, the Finance Commission is appointed every five years and consists of a Chairman and four other members. The Chairman holds the pivotal position in leading the commission, while the other members provide their expertise in formulating recommendations. The Finance Commission's role is crucial in maintaining fiscal federalism and ensuring the equitable distribution of financial resources in India.
Explanation:
The Finance Commission is a constitutional body that is appointed every five years in India. It plays a crucial role in the distribution of financial resources between the Union government and the State governments. Its main function is to recommend the distribution of tax proceeds between the Union and the States, and also among the States themselves.
Composition of the Finance Commission:
The Finance Commission consists of a Chairman and other members. The exact number of members can vary from one commission to another. However, as per the Constitution, the Finance Commission is generally composed of a Chairman and four other members.
Role of the Chairman:
The Chairman of the Finance Commission is appointed by the President of India. The Chairman holds an important position as the head of the commission. They are responsible for leading the discussions, decision-making, and formulation of recommendations.
Role of other members:
The other members of the Finance Commission are also appointed by the President of India. These members work closely with the Chairman in analyzing financial data, studying the fiscal situation, and formulating recommendations. They provide valuable inputs and expertise in the decision-making process.
Importance of the Finance Commission:
The Finance Commission plays a crucial role in maintaining fiscal federalism in India. Its recommendations have a significant impact on the financial resources available to the Union government and the State governments. The distribution of tax proceeds among the Union and the States is done based on the recommendations of the Finance Commission.
Conclusion:
In conclusion, as per the Constitution, the Finance Commission is appointed every five years and consists of a Chairman and four other members. The Chairman holds the pivotal position in leading the commission, while the other members provide their expertise in formulating recommendations. The Finance Commission's role is crucial in maintaining fiscal federalism and ensuring the equitable distribution of financial resources in India.
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As per the Constitution, the Finance Commission is appointed every five years and consists of aa)Chairman and four other membersb)Chairman and five other membersc)Chairman and six other membersd)Chairman and seven other membersCorrect answer is option 'A'. Can you explain this answer?
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As per the Constitution, the Finance Commission is appointed every five years and consists of aa)Chairman and four other membersb)Chairman and five other membersc)Chairman and six other membersd)Chairman and seven other membersCorrect answer is option 'A'. 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 As per the Constitution, the Finance Commission is appointed every five years and consists of aa)Chairman and four other membersb)Chairman and five other membersc)Chairman and six other membersd)Chairman and seven other membersCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for As per the Constitution, the Finance Commission is appointed every five years and consists of aa)Chairman and four other membersb)Chairman and five other membersc)Chairman and six other membersd)Chairman and seven other membersCorrect answer is option 'A'. Can you explain this answer?.
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