Who appoints the Chairman of the Finance Commission?
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A.
President
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B.
Prime Minister
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C.
Governor
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D.
Chief Justice
Correct Answer:
A. President
Explanation:
Under Article 280 of the Constitution of India, the President is responsible for appointing the Chairman and the four other members of the Finance Commission. This constitutional body is established every five years, or earlier if deemed necessary, to provide recommendations on the distribution of tax revenues between the Union and the State governments. While the President makes the formal appointments, the specific qualifications and selection procedures for these roles are determined by Parliament through legislation, such as the Finance Commission (Miscellaneous Provisions) Act, 1951. Currently, Arvind Panagariya serves as the Chairman of the 16th Finance Commission, having been appointed to the role by the President in December 2023.
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