Question map
Not attempted Correct Incorrect ★ Bookmarked
Loading…
Q143 (NDA-I/2024) Polity & Governance › Constitutional & Statutory Bodies Official Key

Which of the following statements with regard to the constitution of Finance Commission is/are correct ? 1. The Government of India has recently constituted the Sixteenth Finance Commission under the Chairmanship of Dr. Arvind Panagariya. 2. Finance Commission is constituted in pursuance to Article 263 of the Constitution of India. Select the answer using the code given below :

Explanation

The correct answer is Option A based on the following facts:

  • Statement 1 is correct: The Government of India, vide notification dated December 31, 2023, constituted the Sixteenth Finance Commission with Dr. Arvind Panagariya (former Vice-Chairman of NITI Aayog) as its Chairman. The commission is expected to submit its report by October 31, 2025, covering a five-year period starting April 1, 2026.
  • Statement 2 is incorrect: The Finance Commission is a constitutional body established under Article 280 of the Constitution of India. It is constituted by the President every five years to recommend the distribution of financial resources between the Union and the States.
  • Article 263, mentioned in the statement, pertains to the Inter-State Council, which is a separate body aimed at facilitating coordination between the States and the Union.
✓ Thank you! We'll review this.

SIMILAR QUESTIONS

NDA-I · 2013 · Q63 Relevance score: 5.05

Which of the following statements is/are correct? 1. The 14th Finance Commission was constituted under the Chairmanship of Shri Vijay Kelkar. 2. The 14th Finance Commission has been specifically asked also to recommend how non- priority PSUs be relinquished. Select the correct answer using the code given below.

CDS-II · 2010 · Q75 Relevance score: 4.00

Which of the following statements with regard to Inter-State Council is/are correct ? 1. It was established under the provisions of the Constitution of India. 2. The Council is a recommendatory body. 3. There is a standing committee of the Council under the Chairman- ship of the Prime Minister of India to process matters for consideration of the Council. Select the correct answer using the code given below : ,

CAPF · 2018 · Q81 Relevance score: 3.73

Which of the following statements about the Constitution of India is/are correct? 1. The “Objectives Resolution’ was moved by Sardar Vallabhbhai Patel, 2. Dr. B. R. Ambedkar served as the Chairman of the Drafting Committee in his capacity as the Law Minister. Select the correct answer using the code given below,

CAPF · 2008 · Q39 Relevance score: 3.21

Consider the following statements : 1. The Prime Minister of India is the ex-officio Chairman of the Planning Commission. 2. The Union Finance Minister is the ex-officio Chairman of the Finance Commission. Which of the statements given above is/are correct ?

IAS · 2023 · Q85 Relevance score: 3.15

Consider the following statements in respect of the Constitution Day : Statement-I : The Constitution Day is celebrated on 26th November every year to promote constitutional values among citizens. Statement-II : On 26th November, 1949, the Constituent Assembly of India set up a Drafting Committee under the Chairmanship of Dr. B. R. Ambedkar to prepare a Draft Constitution of India. Which one of the following is correct in respect of the above statements?