The Finance Commission is constituted by the President every:
-
A.
3 years
-
B.
5 years
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C.
7 years
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D.
10 years
Correct Answer:
B. 5 years
Explanation:
According to Article 280 of the Constitution of India, the Finance Commission is established by the President at the end of every five years, or sooner if the President deems it necessary. This constitutional body is primarily responsible for recommending how tax revenues and grants should be distributed between the Union and the State governments. Each commission consists of a chairman and four additional members appointed by the President. Based on this legal requirement, the correct interval for its constitution is every 5 years.
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