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Finance Commission
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This lesson is on Finance Commission. The lesson includes the various provisions regarding it such as its composition, qualification of its members, functions, its role, the commissions appointed so far. An effort has been also made in explaining tax devolution and involves the subjects that were referred to the Fourteenth Finance Commission. Some highlights regarding previous finance commission have also been provided for and question from previous years have been discussed.

Deepa Beeranur
Exploring Self!

Unacademy user
common lena dono factorial me samajh ni aaya
in prelims question of 2000 with regards to primary function of FC..answer would be (c) I guess..FC recommendations to president on financial gives recommendation to president on how net proceeds of taxes be distributed between centre and state and that recommendation is not not binding....plz let me know if I m correct or not.....
Ramjee chitte
3 years ago
Not only that in option 1 it is mentioned that sharing of revenue. revenue may be tax income or non tax income like interest on loans . So option 3 is MOST Suitable Answer I think.
in question 1.....why not option a will be right?....plz clarify
Suganthi LS
2 years ago
sorry.....y option d is wrong?
one of the milestone in unacademy courses
2- pre 2003 answer is 2 and 3 ..Deepa pls let us know if the answers are correct or not

  2. About Me Deepa Beeranur nEngineer A Civil Service Aspirant Contribute: Voluntary Like, Rate, Review, Recommend RECOMMEND

  3. CONTENTS Introduction * Composition Functions Role * Commissions appointed

  4. Article 280 FC President shall constitute a FC every fifth year or at such earlier time as he considers necessary" Part XII- Finance, Property, Contracts and Suits Quai-judicial body Balancingwheel of Fiscal federalism in India Non-permanent Constitutional body 4

  5. Composition Consists ofa Chairman and four other members e Hold office for a such a period oftime as specified by President Eligible for reappointment Parliament (President)to determine the qualifications and the manner in which they are selected.

  6. Qualifications Chairman A person having experience in Public Affairs Four Members A judge of HC or qualified to be appointed as one [Citizen of India, Judicial office for Ten years, Advocate in HC for 1o years] I. II. Specialised Knowledge offinance and accounts of govt III. Wide experience in financial matters and in administration IV. Special Knowledge of economics

  7. Functions Tax Devolution Grants-in aid Measures to augment CF of state Any other Matter referred by President

  8. Tax Devolution Vertical Horizontal

  9. Any other Matter referred by President Public Utility Pricing Fiscal Deficit review Disinvestment Disaster Management *GST etc...

  10. Report Submits to President President lays it before both the Houses of the Parliament along with explanatory memorandum as to the actions taken on its recommendations 10

  11. Prelims 2002 1 Which one of the following authorities recommends the principals governing the grants-in-aid of the revenues to States out of CFI? A). Finance Commission B). Inter-State Council C).Union Ministry of Finance D). Public Accounts Committee A). Finance Commission 14