Who was the first chairman of Finance Commission of India?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. K. C. Neogy.
The inaugural chairman of the Finance Commission of India was K.C. Neogy. Appointed in 1951, Neogy led the commission during its formative years, tasked with recommending the distribution of financial resources between the Union and State governments. Neogy's tenure laid the groundwork for the commission's subsequent roles in fiscal federalism and resource allocation, shaping the financial landscape of post-independence India. His leadership established precedents for future Finance Commissions in navigating complex fiscal challenges and promoting equitable development across India's diverse regions.