Podcast
Questions and Answers
What is the main focus of the Finance Commission when recommending transfers?
What is the main focus of the Finance Commission when recommending transfers?
- Net divisible pool calculation
- Horizontal equity
- Vertical equity
- State governments' needs (correct)
What does the net divisible pool (NDP) calculation exclude?
What does the net divisible pool (NDP) calculation exclude?
- Cesses and surcharges (correct)
- Central taxes
- Non-tax revenue
- Gross tax revenues
What was a significant change in the divisible pool post a constitutional amendment in 2000?
What was a significant change in the divisible pool post a constitutional amendment in 2000?
- Exclusion of state taxes
- Introduction of GST
- Inclusion of all taxes of the union (correct)
- Reduction in central government's share
What was a key factor that influenced the formation of the Fifteenth Finance Commission?
What was a key factor that influenced the formation of the Fifteenth Finance Commission?
How did the vertical devolution share recommended by the Fifteenth Finance Commission for 2021-26 compare to that recommended by the 14th Finance Commission for 2015-20?
How did the vertical devolution share recommended by the Fifteenth Finance Commission for 2021-26 compare to that recommended by the 14th Finance Commission for 2015-20?
What is the main responsibility of the Finance Commission?
What is the main responsibility of the Finance Commission?
What does vertical equity refer to in the context of the Finance Commission's work?
What does vertical equity refer to in the context of the Finance Commission's work?
How is income distance used in the distribution of central taxes among states for 2021-26?
How is income distance used in the distribution of central taxes among states for 2021-26?
Which commission recommended that the share of states in central taxes for 2021-26 should be 41%?
Which commission recommended that the share of states in central taxes for 2021-26 should be 41%?
What is the purpose of levying a cess on luxury goods and demerit goods?
What is the purpose of levying a cess on luxury goods and demerit goods?
What does SGST stand for in relation to tax collection by states?
What does SGST stand for in relation to tax collection by states?
What is the purpose of the Finance Commission as per the Indian Constitution?
What is the purpose of the Finance Commission as per the Indian Constitution?
Which of the following statements about the Finance Commission is true?
Which of the following statements about the Finance Commission is true?
In what way does the Finance Commission contribute to maintaining fiscal federalism in India?
In what way does the Finance Commission contribute to maintaining fiscal federalism in India?
What is one of the key functions of the Finance Commission?
What is one of the key functions of the Finance Commission?
Which body makes recommendations to the President on measures needed to augment a state's consolidated fund?
Which body makes recommendations to the President on measures needed to augment a state's consolidated fund?
How does the Finance Commission assist in distributing resources between the centre and states?
How does the Finance Commission assist in distributing resources between the centre and states?
