Which of the following is constituted under Article 280 of the Constitution of India?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Finance Commission
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Finance Commission is constituted under Article 280 of the Constitution of India.
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Its core responsibility is to evaluate the state of finances of the Union and State Governments, recommend the sharing of taxes between them, lay down the principles determining the distribution of these taxes among States.
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Its working is characterised by extensive and intensive consultations with all levels of governments, thus strengthening the principle of cooperative federalism.
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Its recommendations are also geared towards improving the quality of public spending and promoting fiscal stability.
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The first Finance Commission was set up in 1951 and there have been fifteen so far.