The Eleventh Finance Commission was constituted by the President on
July 3, 1998
to give recommendations on specified aspects of Centre-State fiscal relations during 2000-2005. The Commission submitted its Report covering all aspects of its original mandate on 7th July, 2000.
Who established state finance commission?
According to this article,
the governor of the state
shall set up the Finance Commission within the period of one year that begins with the seventy- third amendment act of the Indian Constitution, 1992 and after that at the end of every five years.
What is the establishment of 13th Finance Commission?
The Thirteenth Finance Commission (FC-XIII) was
constituted by the President under Article 280 of the Constitution on 13 November 2007 to make recommendations for the period 2010-15
. Dr. Vijay Kelkar was appointed the Chairman of the Commission.
What is the current finance commission?
The Fifteenth Finance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01.
What is the weightage given to the population in the 11th Finance Commission recommendations?
The Eleventh Finance Commission has reduced the relative weightage for population to
10%
and for tax effort to 5%. It has raised the index of infrastructure to a weightage of 7.5%.
How many SFC are there in India?
At present in India, there are
18 state
finance corporations (out of which 17 SFCs were established under the SFC Act 1951).
What is the Article 148?
Article 148 –
Comptroller and Auditor-General of India
There shall be a Comptroller and Auditor-General of India who shall be appointed by the President by warrant under his hand and seal and shall only be removed from office in like manner and on like grounds as a Judge of the Supreme Court.
Who is 14th commission Chairman?
Dr. Y. V. Reddy
was appointed the Chairman of the Commission. Report of The Fourteenth Finance Commission (2015-2020).
Who was the Chairman of 12th Finance Commission?
| Finance Commission Year of establishment Chairman | Twelfth 2002 C. Rangarajan | Thirteenth 2007 Dr. Vijay L. Kelkar | Fourteenth 2013 Dr. Y. V Reddy | Fifteenth 2017 N. K. Singh |
|---|
When was the 13th Finance Commission established?
The Thirteenth Finance Commission of India was constituted by the [[President of India ]] under the chairmanship of Vijay L. Kelkar on
13 November 2007
.
What are the key recommendations of 15th Finance Commission fy21?
Key recommendations in the first report (2020-21 period) include:
Devolution of taxes to states
: The share of states in the centre’s taxes is recommended to be decreased from 42% during the 2015-20 period to 41% for 2020-21.
What is the period covered by the recommendation of the 12th Finance Commission?
The commission submitted its report on 30 November 2004 and covered the period from
2005-10
.
How is the Finance Commission constituted?
The Finance Commission is constituted by
the President under article 280 of the Constitution
, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.
Are recommendations of Finance Commission binding?
Are the recommendations made by the Finance Commission binding on the government?
The Finance Commission’s recommendations are not binding on the government
.
What are the features of SFC?
- Ultra-low inertia. The outer diameter shape of the clamp hub is linked to the bore diameter you are using. …
- Simple, reliable, no backlash. …
- Blocks heat. …
- For tapered shafts. …
- Custom-ordered specific lengths (SFC DA2 types)
What are the functions of SFC discuss?
Functions of SFC
It subscribes the shares and debentures of industrial concerns
. It underwrites the shares and debentures of the industrial concerns. It guarantees loans raised by the industrial concerns repayable within 20 years. Guarantees deferred payments for purchase of capital goods with India.
What are the main objects of MP Financial Corporation?
- MADHYA PRADESH FINANCIAL CORPORATION. …
- Financial assistance by sanction of Term Loans to new Micro,
- Small and Medium enterprises and Services Sector for acquiring fixed assets like land, building, plant & machinery and other miscellaneous assets.
- Sanction of Term Loans to existing industrial concerns and.
What is the Article 124?
Article 124 THE UNION JUDICIARY – Constitution Of India. (1)
There shall be a Supreme Court of India consisting of a Chief Justice of India
and, until Parliament by law prescribes a larger number, of not more than seven2 other Judges. … (b) a Judge may be removed from his office in the manner provided in clause (4).
What is Article 243 A?
Central Government Act. Article 243A in The Constitution Of India 1949. 243A.
Gram Sabha
A Gram Sabha may exercise such powers and perform such functions at the village level as the Legislature of a State may by law, provide.
What is the Article 76?
Article 76 of the constitution mentions that he/she is
the highest law officer of India
. As a chief legal advisor to the government of India, he advises the union government on all legal matters. He also is the primary lawyer representing Union Government in the Supreme Court of India.
Who is the 15th finance commission chairman?
N K Singh
, chairman of the Fifteenth Finance Commission, has been elected president of the Institute of Economic Growth (IEG). He succeeds former prime minister Manmohan Singh.
What is the 15th Finance Commission Report title?
The cover and title of the Report are also unique in this Report- “
Finance Commission in Covid Times
” and the use of Scales on the cover to indicate the balance between the States and the Union.
Who is the chairman of 21st Law Commission?
| Formation First time in 1834; Current 2016-03-10 | Chairman Justice B. S. Chauhan (21st Law Commission) | Full-time Member Justice Ravi R. Tripathi and S.Siva Kumar |
|---|
Who appoints the Finance Commission of India?
The Finance Commission is appointed by
the President
under Article 280 of the Constitution.
In which year was the first report of the Eleventh Finance Commission published?
1. The Eleventh Finance Commission was constituted on
3rd July, 1998
with the mandate to give its report by 31st December, 1999 covering the five year period 2000-2005.
Who was the first finance minister of India?
After Independence, India’s first Finance Minister,
Shri Shanmukham Chetty
, presented the first budget of independent India on 26th November, 1947.
Who is the revenue minister of India?
| Name Designation Room No | SMT. NIRMALA SITHARAMAN Finance Minister 134,NB | – PS TO FM 136 A | SHRI VIVEK SINGH OSD TO FM 137 NB | SHRI ANIL YADAV US (FMO) 135 NB |
|---|
Who determines the qualifications of members of Finance Commission?
The Correct Answer is
Parliament
. The Parliament determines legally the qualifications of the members of the Commission and their selection methods. Under Article 280 of the Constitution, the Finance Commission is appointed by the President.
What is Article 243 J?
243J.
Audit of accounts of Panchayats
The Legislature of a State may, by law, make provisions with respect to the maintenance of accounts by the Panchayats and the auditing of such accounts.
What are the recommendations of 14th Finance Commission?
The commission recommended to keep an aggregate corpus for all States of Rs. 61,219 crore for the five years based on the expenditure from the past years. The commission recommended all
States to contribute 10 per cent and Union with the remaining 90 per cent
.
Who is the chairman of 13th Finance Commission constituted in 2007?
The Thirteenth Finance Commission (FC-XIII) was constituted by the President under Article 280 of the Constitution on 13 November 2007 to make recommendations for the period 2010-15.
Dr. Vijay Kelkar
was appointed the Chairman of the Commission.
What is the importance of Article 356?
“(1) Article 356 of the Constitution confers a power upon the President to be exercised only where he is satisfied that a situation has arisen where the government of a State cannot be carried on in accordance with the provisions of the Constitution.
What is the age limit for IAS?
| Age Limit 21 to 32 years | Age relaxation As per category (mentioned below) | Number of Attempts 06 (General and EWS) ; 09 (OBC); SC/ST (Upto age limit) | Educational qualification for UPSC Civil Services Graduation from any recognized university | Nationality Indian (For IAS and IPS); |
|---|
Who takes IAS interview?
Board members of UPSC conduct
the interviews. It comprises four members and a chairperson. There are different types of UPSC interviews, depending upon the post.
What is full form IAS?
The full form of IAS is the
Indian Administrative Service
and is considered the premier civil service of India. … IAS is the permanent bureaucracy in India and forms a part of the executive branch. It is one of the three All India Services, along with the Indian Police Service (IPS) and the Indian Forest Service (IFS).
What are key recommendations of 15th Finance Commission?
Major recommendations of the 15th FC that were incorporated into the Union budget include
a boost in health spending, higher borrowing limits for states and a consolidation of centrally sponsored schemes or public programmes implemented by states
, but largely funded by the Union government.
What are the recommendation of the latest Finance Commission?
The Fifteenth Finance Commission has recommended
grants of Rs 4,36,361 crore from the Union
government to local bodies for 2021-26. This is an increase of 52% over the corresponding grant of Rs 2,87,436 crore by its predecessor for the period 2015-20.
What is the need for finance commission?
Each Finance Commission is required to make recommendations on: (i)
sharing of central taxes with states
, (ii) distribution of central grants to states, (iii) measures to improve the finances of states to supplement the resources of panchayats and municipalities, and (iv) any other matter referred to it.
When was the 12th Finance Commission submitted?
1. The Twelfth Finance Commission was constituted by the President on November 1, 2002 to give recommendations on specified aspects of Center State fiscal relations during 2005-10. The Commission submitted its Report covering all aspects of its mandate on
December 17, 2004
.
Who was the chairman of 10th Finance Commission?
The Tenth Finance Commission of India was incorporated in the year 1992 consisting of
Shri Krishna Chandra Pant
as the Chairman.
