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Consider the following statements regarding the Finance Commission:
1.'Finance Commission in Covid Times' was the title of the report submitted by the 15th Finance Commission.
2.It is a regulatory body.
3.The Finance commission submits its report to the Finance Minister.
Which of the above statements are incorrect?
  • a)
    1 and 2
  • b)
    2 and 3
  • c)
    1 and 3
  • d)
    1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding the Finance Commission:1....
Why in the news?
  • The 15th Finance Commission (FFC) submitted its report,, which defines the devolution of Central tax revenues to states and other fiscal matters for the five years from 2021-22 to 2025-26 to President Ram Nath Kovind.
  • The report is titled ‘Finance Commission in Covid Times.’ Hence, Statement 1 is correct.
  • The report was submitted by the Commission Chairman NK Singh along with Members Ajay Narayan Jha, Ashok Lahiri, and Ramesh Chand, and Prof. Anoop Singh.
Additional Information
  • The finance commission is a constitutional body mandated by article 280 of the constitution.
  • It submits its report to the President of India.
  • Hence, Statements 2 and 3 are incorrect.
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Consider the following statements regarding the Finance Commission:1.'Finance Commission in Covid Times' was the title of the report submitted by the 15th Finance Commission.2.It is a regulatory body.3.The Finance commission submits its report to the Finance Minister.Which of the above statements are incorrect?a)1 and 2b)2 and 3c)1 and 3d)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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