Finance commission of India
Understand the Problem
The question is asking about the Finance Commission of India, which is a constitutional body responsible for regulating the distribution of tax revenues between the central government and the states. The user likely seeks detailed information about its functions, structure, or history.
Answer
The Finance Commission of India defines the financial relations between the central and state governments.
The Finance Commission of India is periodically constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between the central government and the state governments.
Answer for screen readers
The Finance Commission of India is periodically constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between the central government and the state governments.
More Information
The Finance Commission is a constitutional body responsible for the distribution of revenues between the Union and State governments in India. It also recommends measures to augment the Consolidated Fund of a State to supplement the resources of Panchayats and Municipalities.
Tips
A common mistake is confusing the Finance Commission with other financial bodies like the Reserve Bank of India. The Finance Commission specifically deals with revenue distribution.
Sources
- Finance Commission - en.wikipedia.org
- Finance Commission of India – BYJU'S - byjus.com
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