Finance Commission — Prelims Questions

With reference to the Finance Commission in India, consider the following statements: 1. The Finance Commission is constituted every five years under Article 280 of the Constitution. 2. The recommendations of the Finance Commission are binding on both the Union and State governments. 3. The 15th Finance Commission introduced performance-based incentives for states for the first time. 4. The Finance Commission can recommend grants-in-aid to strengthen Panchayats and Municipalities. Which of the statements given above are correct?

Which of the following best describes the relationship between the Finance Commission and the GST Council?

Consider the following criteria used by Finance Commissions for tax devolution: 1. Population based on 2011 Census 2. Per capita income distance 3. Area of the state 4. Demographic performance 5. Fiscal discipline Which of these criteria were used by the 15th Finance Commission?

The Finance Commission's mandate to recommend measures for strengthening local bodies was added after which constitutional amendment?

Which of the following statements about the composition of Finance Commission is/are correct? 1. It consists of a Chairman and four other members. 2. All members must be qualified as High Court judges. 3. Members are appointed by the President of India. 4. The tenure of members is fixed at exactly five years. Select the correct answer using the code given below: