Consider the following statements: The State government shall appoint a fincance commission to review the financial position of the Panchayats and to make recommendations as to 1. the distribution between the State and Panchayats of the net proceeds of ta

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Q: 57 (NDA-II/2012)
Consider the following statements: The State government shall appoint a fincance commission to review the financial position of the Panchayats and to make recommendations as to
1. the distribution between the State and Panchayats of the net proceeds of taxes, tolls and fees leviable by the states.
2. the determinates of the taxes duteis, tolls and fees which may be assigned to the panchayats.
3. the principles that will determine grant-in- aid to the Panchayats.
Which of the statement(s) given above is/are correct?

question_subject: 

Economics

question_exam: 

NDA-II

stats: 

0,59,16,4,6,6,59

keywords: 

{'panchayats': [1, 0, 2, 12], 'fincance commission': [0, 0, 0, 1], 'principles': [0, 0, 1, 0], 'tolls': [1, 0, 0, 1], 'grant': [0, 0, 3, 4], 'net proceeds': [1, 0, 1, 2], 'taxes': [2, 1, 1, 0], 'taxes duteis': [0, 0, 0, 1], 'fees': [0, 0, 0, 2], 'determinates': [0, 0, 0, 1], 'state government': [0, 0, 1, 0], 'financial position': [0, 1, 0, 1]}

The correct answer is option 4, which states that all of the statements given are correct. Let`s dissect each option to understand why:

- Option 1 states that only statement 1 is correct. However, this is incorrect because statements 2 and 3 are also correct according to the question.

- Option 2 states that statements 2 and 3 are correct. This is partially correct because statement 1 is also correct according to the question.

- Option 3 states that statements 1 and 3 are correct. This is incorrect because statement 2 is also correct.

- Option 4 states that all of the statements given are correct. This is the correct answer because the question states that the State government shall appoint a finance commission to review the financial position of the Panchayats and make recommendations as to the distribution of proceeds of taxes, determinates of taxes and principles of grant-in-aid. Therefore, all three statements mentioned in the question are correct.

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