Indian Polity and Governance | The Finance Commission

Indian Polity and Governance | The Finance Commission

Dec 15, 2024 - 15:16 Updated: Dec 15, 2024 - 15:34
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1. Which one of the following authorities recommends the principles governing the grants-in- aid of the revenues to the States out of the Consolidated Fund of India?

Finance Commission
Inter-State Council
Union Ministry of Finance
Public Accounts Committee

2. Which one of the following institutions will lay down the basic principles for the distribution of the net proceeds of the taxes between the Union and States?

Planning Commission
National Development Council
Finance Commission
Union Ministry of Finance

3. Generally, in India Finance Commission is appointed for every five years

To determine the financial position of the States
To determine the financial position of Central Government
To determine the financial resources of Central Government
To determine the share of the States in the grants and revenues of the Central Government

4. Finance are distributed between the Centre and the State on the recommendations of which of the following?

Planning Commission
Public Accounts Committee
Finance Commission
National Development Council

5. The main functions of Finance Commission is

To determine the part of States in central taxes and to determine the principles of financial aid given by the Centre to States
Financial control over States
Financial control over Central
None of the above

6. The Finance Commission is primarily concerned with recommending to the President about

The principle governing grants-in-aid to be given to the States
Distributing the net proceeds of the taxes between the Centre and the States
Neither (A) nor (B)
Both (A) and (B)

7. Which one of the following is not a function of Finance Commission in India?

Devolution of Income Tax
Devolution of Excise Duty
Award of grants-in-aid
Devolution of Trade Tax

8. Federal Finance Commission in India relates to

Finances among the States
Finances between States and the Centre
Finances between the Centre and Local Self Governments
None of the above

9. Main agency to resolve the fiscal disputes between the Centre and States is

Supreme Court
Law Minister
Finance Minister
Finance Commission

10. The Provisions regarding division of taxes between the Union and the States

Can be suspended during Financial Emergency
Can be suspended during National Emergency
Cannot be suspended under any circumstances
Can be suspended only with the consent of a majority of the State Legislatures

11. Who was the Chairman of the Twelfth Finance Commission?

A.M. Khusro
K.C. Pant
Montek Singh
C. Rangarajan

12. Who was the Chairman of the 13th Finance Commission?

Indira Rajaraman
C. Rangarajan
Vijay Kelkar
None of the above

13. Who among the following was the Chairman of 14th Finance Commission?

Shanta Kumar
C. Rangarajan
Y.V. Reddy
None of the above

14. Who of the following shall causes every recommendation made by the Finance Commission to be laid before each House of the Parliament?

The President of India
The Speaker of Lok Sabha
The Prime Minister of India
The Union Finance Minister

15. The Finance Commission is constituted for a period of

4 years
5 years
7 years
10 years

16. Which one of the following statements about a State Finance Commission is true?

It is an informal body
It is a Constitutional body
It is an Administrative body
None of the above

17. After the commencement of the Constitution how many Finance Commissions have been constituted?

10
8
9
15

18. The Finance Commission consists of a Chairman and

Seven other members
Five other members
Four other members
Such other members as may be decided by the President from time-to-time