Finance Commission of India - General Studies MCQs with answers1) Which Article in the Indian Constitution provides for the Finance Commission?
a) Article 323
b) Article 280
c) Article 256
d) Article 378 View Answer / Hide Answer2) What is the constitution of the Finance Commission?
a) Chairman and nine elected (by Lok Sabha) members
b) Chairman, Vice-chairman and eight nominated members
c) Chairman, and four other members appointed by the President
d) Ten elected members of the Lok Sabha
The Parliament has thus decided that the criteria for the persons should be:
1. Chairman should have wide experience in public affairs
2. There should be a judge of the high court or someone who is qualified to be a judge
3. There should be a person with a specialized knowledge of finance and accounts of the government
4. There should be a person with a wide experience of Financial matters and of administration
5. There should be a person with a special knowledge in economics View Answer / Hide Answer
3) Which of the following roles/functions/responsibilities are NOT under the purview of the Financial commission?
ANSWER: c) Chairman, and four other members appointed by the President
The Parliament is granted authority by the Constitution to decide the criteria for the appointment of the members of the Finance Commission.
1. Sharing of net proceeds of taxes between the Center and States
2. Recommending principles for governing the grants-in-aid to the states by the Center
3. Recommendations on matters referred to it by the President for the interest of sound finance
4. Preparation and periodical revision of electoral rolls
a) Only 1
b) Only 2
c) Only 3 and 4
4) Only 4View Answer / Hide Answer
4) In which year did the Finance Commission of India came into existence?
ANSWER: 4) Only 4
Preparation and periodical revision of electoral rolls is the function of the Election Commission and NOT the Finance Commission
d) 1961View Answer / Hide Answer
5) Who was the Chairman of the First Finance Commission of India that was appointed in 1951?
The commission is appointed every 5 years and Article 280 in the Constitution provides for it
a) K.C. Neogy
c) Y.V. Reddy
d) K.C. Pant View Answer / Hide Answer6) Who is the Chairman of the 14th and current Financial Commision of India that was appointed in 2013?
a) K.C. Neogy
c) Y.V. Reddy
d) K.C. Pant View Answer / Hide Answer7) The 13th Finance Commission of India, whose Chairman was Vijay Kelkar, had allocated what percentage of central tax revenues were shared by the Center with the states?
d) 32% View Answer / Hide Answer8) Who was the Chairman of the 13th Finance Commission of India?
a) a) K.C. Neogy
c) Vijay Kelkar
d) K.C. Pant View Answer / Hide Answer