Functions of Finance Commission - Budget & Economic Survey

Q.  The President appoints the Finance Commission for

1) Makes recommendations regarding the devolution of taxes between the Center and the States.

2) The measures, if needed, to augment State government finances to supplement resources of the local bodies (panchayats and municipalities).

3) Review financial position of Local bodies (Panchayats and Municipalities) and suggest measures to improve the position.

4) Suggestions regarding the principles which would govern the quantum and distribution of grants-in-aid (non-plan grants to states).
- Published on 06 Aug 15

a. 1 and 2 only
b. 1, 2 and 3 only
c. 1, 2 and 4 only
d. All of the above

ANSWER: 1, 2 and 4 only
 
Financial position is reviewed by state finance commission appointed by the Governor.

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