The Finance Commission

The FC is constituted by the President under Article 280 of the Constitution every fifth year or earlier if necessary. The approach of each FC is guided by the mandate of the constitutional provisions and the terms of reference contained in the Presidential order constituting it.

  • The duties of the FC are set out under Article 280 of the Constitution.
  • The core duties that relate to sharing of Central taxes and the determination of grants for the States are laid down under Article 270 and Article 275, respectively.

The Indian Constitution provides for Central transfers, but it neither indicates the share of ....

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Economic Development