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Showing posts from October 26, 2011

Q. How is Finance Commission constituted ? What are its functions?

Ans. According to Article 280 of the Constitution, the President shall, within two years from the commencement of the Constitution and thereafter at the interval of every five years, constitute a Finance Commission, which shall consist of a Chairman and four other members to be appointed by the President. Parliament has the power to determine by law the qualifications of these members and the manner of their select ion. Accordingly, the four members are appointed from four different fields as given below—
(1) One member should be either a judge of a High Court or should be qualified to become a judge of High Court.
(2) One member should be a person who has special knowledge of government finance and accounts.
(3) One person having vast experience of financial administration and other such matters.
(4) One person having special. knowledge of economics.
The following are the main functions of the Finance Commission— It shall be the duty of the
Finance Commission to make recommendations to the…