FINANCE COMMISSION
15 Points
Article 280
Responsibilities : article 281
state finance commission : article 243 (1)
5 years tenure
formed after 2 years of formation of constitution.
thereafter formed on every 5th year
1 chairman + 4 members = 5 members
chairman (finance commissioner) must have experience of public affairs
members must have knowledge of economics + would be eligible to be high court judges
1st FC : 1951-> commencement -1952-57 -> chairman-> K.C Neogi
current FC: 15th -> Nov, 2017 -> chairman - Nand Kishore singh -> H.Q-Delhi
Minister Responsible:
Nirmala Sitaraman - finance minister
Anurag Thakur- Dy. finance minister (of state)
13. give advise to President on Tax etc (that tax which is shared between union and state)
14. members can be reappointed
15. Appointed by president.
TEST YOURSELF:
Q.1 Finance commission comes under the article:
a) art. 240 b)art.281 c)art. 280
Q.2 who is your finance minister ?
a) Nirmala Sitaraman b) Anurag Thakur c) Arun jaitely
Q.3 what was the date of commencement of first finance commission?
a) 1951-56 b) 1952-57 c) 1952-58
Q.4 who is our current finance commissioner ?
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Q.5 What is article 243 (1) ?
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