Which of the following articles of the Indian Constitution provides for appointing a Finance Commission?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Article 280.
- The Finance Commission was established by the President of India in 1951 under Article 280 of the Indian Constitution.
- It was formed to define the financial relations between the central government of India and the individual state governments.
- The Finance Commission (Miscellaneous Provisions) Act, 1951 additionally defines the terms of qualification, appointment, and disqualification, as the term, eligibility, and powers of the Finance Commission.
- As per the Constitution, the Commission is appointed every five years and consists of a chairman and four other members.