Consider the following statement s about 11 Finance Commission 1. It was constituted to go recommendations on specified aspects of Centre - State fiscal relations during 2005- 2010. 2. It has recommended that the share of states in the net proceeds of sha

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Q: 79 (CDS-II/2006)
Consider the following statement s about 11 Finance Commission
1. It was constituted to go recommendations on specified aspects of Centre - State fiscal relations during 2005- 2010.
2. It has recommended that the share of states in the net proceeds of share alike Central taxes shall be 50%.
Which of the statements given above is/ are correct ?

question_subject: 

Economics

question_exam: 

CDS-II

stats: 

0,7,21,7,1,14,6

keywords: 

{'central taxes': [1, 0, 1, 0], 'fiscal relations': [0, 0, 0, 1], 'net proceeds': [1, 0, 1, 2], 'finance commission': [8, 1, 3, 1], 'share': [0, 0, 2, 3], 'states': [1, 0, 0, 1], 'centre': [10, 3, 7, 19], 'aspects': [0, 0, 1, 2]}

The correct answer is option 1: 1 only.

Option 1 states that the 11th Finance Commission was constituted to make recommendations on specific aspects of Centre-State fiscal relations during 2005-2010. This statement is incorrect because the 11th Finance Commission was actually constituted for the period of 2000-2005, not 2005-2010.

Option 2 states that the 11th Finance Commission recommended that the share of states in the net proceeds of share alike Central taxes shall be 50%. This statement is not mentioned in the question, so we cannot determine its correctness based on the given information.

Therefore, the only correct statement is that the 11th Finance Commission was constituted for the period of 2000-2005. There is no information provided in the question about the recommendation made by the commission regarding the share of states in net proceeds of share alike Central taxes.