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Who was the Chairman of First Finance Commission of Rajasthan?
- a)Krishna Kumar Goyal
- b)Jyoti Kiran
- c)Manik Chand Surana
- d)Heeralal Devpura
Correct answer is option 'A'. Can you explain this answer?
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Who was the Chairman of First Finance Commission of Rajasthan?a)Krishn...
The correct answer is Krishna Kumar Goyal.
Key Points
- Krishna Kumar Goyal was the Chairman of the First Finance Commission of Rajasthan.
- Award period:1995-1996 to 1999-2000
- Devolution of State’s Own Net Tax Revenue recommended: 2.18
- Article 243-I of the Constitution of India
- It down that the Governor of state shall, as soon as may be within one year from the commencement of the Constitution (seventy-third Amendment) Act, 1992, and thereafter at the expiration of every fifth year, constitute a Finance Commission to review the financial position of the Panchayats and make recommendations to the Governor.
- Similarly, Article 243-Y of the Constitution has a provision for municipalities.
- Articles 243-I and 243-Y have a provision that the State Finance Commission shall recommend the principles governing the distribution between the state and the panchayats and the municipalities of the net proceeds of the taxes, duties, tolls, and fees leviable by the State.
- The Commission is to recommend grants to the Panchayats and Municipalities from the Consolidated Fund of the State and measures to improve the financial position of these local bodies.
- The Governor shall cause every recommendation made by the Commission under Articles 243-I and 243-Y together with an explanatory memorandum as to the action taken thereon to be laid before the legislature of the State.
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Who was the Chairman of First Finance Commission of Rajasthan?a)Krishn...
Chairman of First Finance Commission of Rajasthan
The first Finance Commission of Rajasthan was established to address the financial needs of the state and ensure equitable distribution of resources. The correct answer to the question about its Chairman is option 'A': Krishna Kumar Goyal.
Significance of the Finance Commission
- The Finance Commission plays a crucial role in fiscal federalism.
- It ensures that the distribution of financial resources aligns with the needs of the state.
Krishna Kumar Goyal's Role
- Krishna Kumar Goyal served as the Chairman of the First Finance Commission of Rajasthan.
- His leadership was instrumental in setting the framework for fiscal policies and resource allocation.
Objectives of the First Finance Commission
- To assess the financial position of the state and recommend measures to improve fiscal health.
- To provide recommendations on the distribution of taxes and grants-in-aid among various tiers of government.
Impact on Rajasthan's Financial Policy
- The recommendations made by the commission under Goyal's chairmanship were pivotal in shaping Rajasthan's development agenda.
- It helped in formulating strategies for improved governance and economic stability in the state.
In summary, Krishna Kumar Goyal's appointment as the Chairman of the First Finance Commission of Rajasthan marked a significant step towards enhancing the state's financial management and governance. His contributions laid a foundation for sustainable financial practices in the region.
The first Finance Commission of Rajasthan was established to address the financial needs of the state and ensure equitable distribution of resources. The correct answer to the question about its Chairman is option 'A': Krishna Kumar Goyal.
Significance of the Finance Commission
- The Finance Commission plays a crucial role in fiscal federalism.
- It ensures that the distribution of financial resources aligns with the needs of the state.
Krishna Kumar Goyal's Role
- Krishna Kumar Goyal served as the Chairman of the First Finance Commission of Rajasthan.
- His leadership was instrumental in setting the framework for fiscal policies and resource allocation.
Objectives of the First Finance Commission
- To assess the financial position of the state and recommend measures to improve fiscal health.
- To provide recommendations on the distribution of taxes and grants-in-aid among various tiers of government.
Impact on Rajasthan's Financial Policy
- The recommendations made by the commission under Goyal's chairmanship were pivotal in shaping Rajasthan's development agenda.
- It helped in formulating strategies for improved governance and economic stability in the state.
In summary, Krishna Kumar Goyal's appointment as the Chairman of the First Finance Commission of Rajasthan marked a significant step towards enhancing the state's financial management and governance. His contributions laid a foundation for sustainable financial practices in the region.
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Who was the Chairman of First Finance Commission of Rajasthan?a)Krishna Kumar Goyalb)Jyoti Kiranc)Manik Chand Suranad)Heeralal DevpuraCorrect answer is option 'A'. Can you explain this answer?
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