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Financial distribution between the Union and the State takes place on the basis of the recommendations of which one of the following?
- a)The National Development Council
- b)The Inter-State Council
- c)The Planning Commission
- d)The Finance Commission
Correct answer is option 'D'. Can you explain this answer?
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Financial distribution between the Union and the State takes place on ...
The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the states themselves.
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Financial distribution between the Union and the State takes place on ...
Firstly, let's break down the explanation into headers and key points:
Explanation:
- **Finance Commission**: The Finance Commission is a constitutional body formed by the President of India every five years. Its main function is to recommend the distribution of financial resources between the Union government and the State governments.
- **Recommendations**: The Finance Commission makes recommendations on how the tax revenue should be divided between the Centre and the States. It also suggests grants-in-aid to States based on their fiscal requirements.
- **Criteria**: The Finance Commission uses specific criteria to determine the distribution of funds, such as population, area, income distance, and fiscal discipline.
- **Autonomy**: The Finance Commission operates independently and is not bound by the directions of the government. This ensures that the recommendations are impartial and based on objective criteria.
- **Constitutional Mandate**: The distribution of financial resources between the Union and the States is a crucial aspect of fiscal federalism in India. The Finance Commission plays a significant role in ensuring a fair and equitable distribution of funds.
In conclusion, the Finance Commission is responsible for making recommendations on the distribution of financial resources between the Union government and the State governments. Its objective criteria and autonomous nature ensure a fair and impartial allocation of funds, in line with the constitutional mandate of fiscal federalism in India.
Explanation:
- **Finance Commission**: The Finance Commission is a constitutional body formed by the President of India every five years. Its main function is to recommend the distribution of financial resources between the Union government and the State governments.
- **Recommendations**: The Finance Commission makes recommendations on how the tax revenue should be divided between the Centre and the States. It also suggests grants-in-aid to States based on their fiscal requirements.
- **Criteria**: The Finance Commission uses specific criteria to determine the distribution of funds, such as population, area, income distance, and fiscal discipline.
- **Autonomy**: The Finance Commission operates independently and is not bound by the directions of the government. This ensures that the recommendations are impartial and based on objective criteria.
- **Constitutional Mandate**: The distribution of financial resources between the Union and the States is a crucial aspect of fiscal federalism in India. The Finance Commission plays a significant role in ensuring a fair and equitable distribution of funds.
In conclusion, the Finance Commission is responsible for making recommendations on the distribution of financial resources between the Union government and the State governments. Its objective criteria and autonomous nature ensure a fair and impartial allocation of funds, in line with the constitutional mandate of fiscal federalism in India.
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Financial distribution between the Union and the State takes place on the basis of the recommendations of which one of the following?a)The National Development Councilb)The Inter-State Councilc)The Planning Commissiond)The Finance CommissionCorrect answer is option 'D'. Can you explain this answer?
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Financial distribution between the Union and the State takes place on the basis of the recommendations of which one of the following?a)The National Development Councilb)The Inter-State Councilc)The Planning Commissiond)The Finance CommissionCorrect answer is option 'D'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Financial distribution between the Union and the State takes place on the basis of the recommendations of which one of the following?a)The National Development Councilb)The Inter-State Councilc)The Planning Commissiond)The Finance CommissionCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Financial distribution between the Union and the State takes place on the basis of the recommendations of which one of the following?a)The National Development Councilb)The Inter-State Councilc)The Planning Commissiond)The Finance CommissionCorrect answer is option 'D'. Can you explain this answer?.
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