The Finance Commission is constituted under Article 280 of the Indian Constitution. This article outlines the Commission's composition, functions, and tenure. It plays a crucial role in India's federal system by recommending the distribution of tax revenue between the Union and the States. The Commission's recommendations are not binding but carry significant weight, influencing the financial balance and resources available to different levels of government.
The other options provided are incorrect. Articles 338, 324, and 148 deal with different aspects of the Indian Constitution, such as the Scheduled Castes and Scheduled Tribes Commission, the Election Commission, and the composition of the Supreme Court, respectively. These articles do not relate to the establishment of the Finance Commission.
Understanding the role of the Finance Commission is vital for comprehending the distribution of resources and the financial dynamics within India's governance structure. The Commission's existence, based on Article 280, highlights the importance of a structured approach to federal finances. Its recommendations are instrumental in maintaining a stable and equitable financial balance across India's diverse states.
Similar Questions
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Important Questions from Constitutional Bodies
Who among the following is the only President of India to have completed two terms in office till date?
Consider the following statements: Attorney General of India can
1. take part in the proceedings of the Lok Sabha
2. be a member of a committee of the Lok Sabha
3. speak in the Lok Sabha
4. vote in the Lok Sabha
Which of the statements given above is/are correct?
Which article of the Indian Constitution deals with the vesting of the superintendence, direction and control of elections in the Election Commission?
Who will remain the Attorney General of India till June 30, 2022?
Choose the correct alternative:
The Chairman of a Joint Public Service Commission for two or more States is appointed by
