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WBCS Preliminary Examination 2018 — General Studies · Question 132 of 200

Q132
Indian EconomyPublic Finance, Budget & Taxation
The finance commission is constituted with one chairperson and ______ other members.
  1. a.4
  2. b.5
  3. c.6
  4. d.7

Answer: (A) 4

Under Article 280 the President constitutes a Finance Commission every five years, or earlier, consisting of a Chairman and four other members; their qualifications are laid down by Parliament in the Finance Commission (Miscellaneous Provisions) Act, 1951. It recommends how central taxes are shared between the Union and the States and the principles of grants-in-aid. The first Commission was headed by K. C. Neogy, and the Fifteenth (N. K. Singh) was constituted in November 2017, shortly before this exam.

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