Finance Commission of India

  • In March 2019, Reserve Bank of India Governor called for giving a permanent status to Finance Commission.
  • The 15th Finance Commission was constituted on November 27, 2017 and is headed byN.K. Singh.
  • Finance Commission is a constitutional body set up under Article 280 of the Constitution.
  • Its primary job is to recommend measures and methods on how revenues should be distributed between Centre and the states.
  • It consists of a Chairman and four other members, which are appointed by the President.
  • The qualifications of the chairman and members of the commission have been specified under Finance Commission Act, 1951 and are as follows:
  1. The Chairman shall ....
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