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With reference to Finance commission, consider the following statements:
1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.
2. It consists of a chairman and four other members to be appointed by the president.
3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.
4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.
select the correct answer using the code given below:
  • a)
    1 only
  • b)
    1 and 3 only
  • c)
    2, 3 and 4 only
  • d)
    1, 2, 3 and 4
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to Finance commission, consider the following statement...
The correct answer is 2, 3 and 4 only.
  • The Finance Commission is a Constitutionally mandated body that is at the center of fiscal federalism. 
  • Article 280 of the Constitution of India provides for a Finance Commission as a quasi-judicial body.
  • It is constituted by the President of India every fifth year or at such earlier time as he considers necessary. Hence, Statement 1 is not correct.
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With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer?
Question Description
With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer? for UGC NET 2024 is part of UGC NET preparation. The Question and answers have been prepared according to the UGC NET exam syllabus. Information about With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UGC NET 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer?.
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Here you can find the meaning of With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer?, a detailed solution for With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice With reference to Finance commission, consider the following statements:1. It is constituted by the Parliament of India every fifth year or at such earlier time as it considers necessary.2. It consists of a chairman and four other members to be appointed by the president.3. The Constitution authorizes the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected.4. It also makes a recommendation to augment the consolidated fund of a state to supplement the resources of the panchayats and the municipalities in the state on the basis of the recommendations made by the state finance commission.select the correct answer using the code given below:a)1 onlyb)1 and 3 onlyc)2, 3 and 4 onlyd)1, 2, 3 and 4Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UGC NET tests.
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