Ans. 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.
Who was the first Finance Commission of India?
A: The first Finance Commission was constituted in 1951 headed by KC Neogy. Thirteen finance commissions have been appointed so far at intervals of every five years.
Who established finance commission?
Ans. 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.
Who is the present finance Commissioner of India?
| Finance Commission | Fifteenth | Year of establishment | 2017 | Chairman | N. K. Singh | Operational duration | 2020–26 |
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Who was the chairman of the 14th Finance Commission?
The Fourteenth Finance Commission (FC-XIV) was constituted by the President under Article 280 of the Constitution on 2 January 2013 to make recommendations for the period 2015- 20. Dr. Y. V. Reddy was appointed the Chairman of the Commission.
Who is the president of Finance Commission?
The commission’s chairman is Nand Kishore Singh , with its full-time members being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh.
Who will act as a chairperson for finance commission?
The 15th Finance Commission was constituted by the President of India in November 2017, under the chairmanship of NK Singh , a former member of the Planning Commission. This Commission is expected to submit its report by October 2019. Its recommendations will cover a period of five years from April 2020 to March 2025.
What is the main function of finance commission?
A finance commission is set up very five years by the President under Article 280 of the Constitution. Its main function is to recommend how the Union government should share taxes levied by it with the states . These recommendations cover a period of five years.
How many finance commissions are there?
As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members. Till date, Fourteen Finance Commissions have submitted their reports. Finance commission is autonomous body which is governed by the government of India.
Who was the first chairman of the Planning Commission?
After India achieved independence, a formal model of planning was adopted, and accordingly the Planning Commission, reporting directly to the Prime Minister of India, was established on 15 March 1950, with Prime Minister Jawaharlal Nehru as the Chairman.
Who is the present chairperson of UPSC?
| Name | Dr.Pradeep Kumar Joshi | Service | Professor | Position | Chairman | Term started | 7 August 2020 | Term end | 4 April 2022 |
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What is income distance in finance commission?
Income Distance: The Income distance criteria is the difference between per-capita income of a particular state and state with the highest per-capita income . If the income distance is larger, it would mean that a particular state is poorer and hence it would get higher share of taxes.
Who is the Finance Commission of India 2021?
The Fifteenth Finance Commission (XVFC) led by Chairman N K Singh, on Monday submitted its Report for the period 2021-22 to 2025-26 to President of India Ram Nath Kovind. Members of the Commission, Ajay Narayan Jha, Prof. Anoop Singh, Dr.
Who is our Finance Secretary?
| Finance Secretary of India | Incumbent T. V. Somanathan, IAS since 29 April 2021 | Ministry of Finance | Reports to Parliament of India Council of Ministers of India Prime Minister of India Finance Minister of India Cabinet Secretary of India | Residence New Moti Bagh, New Delhi, India |
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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.
What is the Article 324?
Article 324 of the Constitution provides that the power of superintendence, direction and control of elections to parliament, state legislatures, the office of president of India and the office of vice-president of India shall be vested in the election commission.
