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The Finance Commission of India is constituted by the President under which Article?
Article 280
Article 275
Article 265
Article 360
Article 280
The Finance Commission of India is a constitutional body established by the President of India under Article 280 to define the financial relations between the Centre and the States. It is typically constituted every five years or earlier as the President deems necessary.
The Finance Commission of India is a constitutional body established by the President of India under Article 280 to define the financial relations between the Centre and the States. It is typically constituted every five years or earlier as the President deems necessary.
Article 280 of the Indian Constitution: Establishment of the Finance Commission.
The Finance Commission consists of a Chairman and four other members appointed by the President.
The primary duty of the commission is to recommend the distribution of net proceeds of taxes between the Centre and the States.
The 16th Finance Commission is currently chaired by Arvind Panagariya.
Article 275 pertains to grants-in-aid from the Union to certain States.
Article 265 states that no tax shall be levied or collected except by authority of law.
Article 360 relates to the provisions regarding Financial Emergency.
The recommendations made by the Finance Commission are advisory in nature and not binding on the Government of India.
A is correct тАФ Article 280 mandates the President of India to constitute a Finance Commission every five years or at such earlier time as he considers necessary.
While Article 280 governs the Finance Commission, remember that the GST Council is established under Article 279A; both are essential for understanding India's fiscal architecture.
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