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Under Article 280, the Finance Commission is to be constituted by the President of India every:
Five years
Three years
Four years
Two years
Five years
Article 280 of the Indian Constitution mandates the President to constitute a Finance Commission every five years or at such earlier time as the President considers necessary. It serves as a quasi-judicial body primarily responsible for recommending the distribution of net tax proceeds between the Union and the States.
Article 280 of the Indian Constitution mandates the President to constitute a Finance Commission every five years or at such earlier time as the President considers necessary. It serves as a quasi-judicial body primarily responsible for recommending the distribution of net tax proceeds between the Union and the States.
Article 280 of the Indian Constitution; established as a Constitutional Body to maintain fiscal federalism.
The Finance Commission consists of a Chairman and four other members appointed by the President.
The qualifications and selection procedure of the members are determined by the Parliament through the Finance Commission Act, 1951.
Recommendations made by the Commission are advisory in nature and not binding on the Government of India.
The 16th Finance Commission is currently headed by Arvind Panagariya and was constituted in 2023.
Article 280(3) defines the duties of the commission, which include recommending tax devolution, grants-in-aid, and measures to augment the Consolidated Fund of a State.
The options B, C, and D are incorrect as the statutory requirement for the constitution of the commission is fixed at a five-year interval to align with fiscal planning cycles.
A is correct тАФ The President of India is constitutionally mandated under Article 280 to constitute the Finance Commission every five years.
Always correlate the Finance Commission with the GST Council (Article 279A) as both are pivotal for the federal fiscal framework in India.