The Finance Commission in India is appointed every:
-
A.
3 years
-
B.
5 years
-
C.
7 years
-
D.
10 years
Correct Answer:
B. 5 years
Explanation:
The Finance Commission of India is a constitutional body established under Article 280 of the Constitution. According to this article, the President of India is responsible for constituting the commission every five years, or even earlier if deemed necessary. The primary role of this commission is to provide recommendations on the distribution of tax revenues between the central government and the various state governments, as well as among the states themselves. It consists of a chairman and four other members who are all appointed by the President. Based on these constitutional mandates, the standard interval for appointing a new Finance Commission is five years.
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