The _______ is/are constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.
Finance Commission
The correct answer is option 3. The Finance Commission is constituted under article 280 of the Constitution to make recommendations on the distribution of tax revenues between the Union and the States and amongst the States themselves.
Similar Questions
In relation to the Fiscal Responsibility and Budget Management Act, 2003, _______ means the gross domestic product reckoned at constant prices, as published by the Central Statistics Office from time to time.
Which of the following agencies is responsible for formulating the fiscal policy of India?
In relation to fiscal deficit, which of the following is correct?
Which of the given options best describes the truthfulness of the following statements?
Statement-1: It is the duty of the Commission to make recommendations to the President as to the distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them and the allocation between the States of the respective shares of such proceeds.
Statement-2: It is the duty of the Commission to make recommendations to the President as to the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India.
The Finance Commission is constituted by the __________ under Article 280 of the Indian Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and manage the States themselves.
Which of the following grants are provided from the center's resources over the 2021-26 period?
i) Grants to local bodies
ii) Disaster risk management funds
iii) Sector specific grants
iv) Revenue deficit grants
Jammu and Kashmir FRBM Act, 2006 has been passed as per the recommendation of ______
Which of the given options is INCORRECT in the context of fiscal deficit?
The government of India has targeted revenue deficit for the financial year 2019-20 to be ____ % of GDP.
The Fiscal Responsibility and Budget Management (FRBM) Act, 2003 was enacted by the Parliament in ____.
Important Questions from Fiscal Policy
- Fiscal consolidation has remained a target of macroeconomic reforms. What was the targeted fiscal deficit as a percentage of GDP under the original FRBM Act 2003 ?
- Which of the following was a major fiscal reform introduced in India as part of the 1991 economic reforms?
In the post-reform era, fiscal prudence became central to macroeconomic stability. Which of the following Acts was enacted in 2003 to institutionalise fiscal discipline in India?
- The intervention of the government whether to expand demand or reduce it constitutes the _________ function.
The _________ refers to the excess of government’s revenue expenditure over revenue receipts.
