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Finance Commission Video Lecture | Lucent for GK - UPSC
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FAQs on Finance Commission Video Lecture - Lucent for GK - UPSC
| 1. What is the role of the Finance Commission in India? |  |
Ans. The Finance Commission in India is a constitutional body that is responsible for recommending the distribution of financial resources between the central government and the state governments. It also suggests measures to improve the fiscal stability of the country.
| 2. How is the Finance Commission constituted in India? | |
Ans. The Finance Commission in India is constituted by the President of India every five years. It consists of a Chairman and four other members who are experts in finance, economics, or related fields. The members are appointed by the President after consultation with the Speaker of the Lok Sabha and the Chairman of the Rajya Sabha.
| 3. What factors does the Finance Commission consider while recommending the distribution of financial resources? | |
Ans. The Finance Commission takes into account various factors while recommending the distribution of financial resources. These factors include the population of the states, their income levels, their level of development, their revenue generation capacity, and the responsibilities assigned to them by the Constitution.
| 4. How does the Finance Commission ensure fiscal autonomy for the states in India? | |
Ans. The Finance Commission ensures fiscal autonomy for the states in India by recommending the devolution of a share of the central government's tax revenue to the states. This allows the states to have their own financial resources to meet their expenditure requirements and reduces their dependence on the central government for funding.
| 5. Can the recommendations of the Finance Commission be binding on the government? | |
Ans. The recommendations of the Finance Commission are not binding on the government. However, they are given serious consideration by both the central government and the state governments. The government usually accepts the recommendations and implements them, but it has the discretion to make modifications if required.
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Nov 23, 2024 Last updated |
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