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What is the role of the Finance Commission in India?

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Question: What is the role of the Finance Commission in India?

Options:

  1. To allocate funds to the states
  2. To advise on the distribution of taxes
  3. To manage the public debt
  4. To oversee the budgetary process

Correct Answer: To advise on the distribution of taxes

Solution: 

The Finance Commission advises the President on the distribution of taxes between the Centre and the states.

What is the role of the Finance Commission in India?

Practice Questions

Q1
What is the role of the Finance Commission in India?
  1. To allocate funds to the states
  2. To advise on the distribution of taxes
  3. To manage the public debt
  4. To oversee the budgetary process

Questions & Step-by-Step Solutions

What is the role of the Finance Commission in India?
  • Step 1: Understand that the Finance Commission is a constitutional body in India.
  • Step 2: Know that it is formed every five years or whenever needed.
  • Step 3: Recognize that its main job is to recommend how to share tax money between the central government (Centre) and state governments.
  • Step 4: Remember that the Finance Commission advises the President of India on these matters.
  • Step 5: Realize that this helps ensure fair distribution of financial resources across different levels of government.
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