Which type of institution is the Finance Commission?
(A) Statutory institution
(B) Constitutional institution
(C) Non-constitutional institution
(D) No option is correct.
Correct Answer : Constitutional institution
Question Asked : SSC Stenographer Grade ‘C’ & ‘D’ Exam 2017
Explanation : Finance Commission is a constitutional body set up under Article 280 of Indian constitution. It is formed every five years to define the financial relations between the centre and state governments and is responsible for the distribution of net proceeds of taxes between Center and the States, to be divided as per their respective contributions to the taxes.
....Read more
Useful Quotations for : UPSC, State PSC, IBPS, SSC, Railway, NDA, Police Exams
Like The Facebook Page
CurrentGK for
Current Affairs, Latest GK &
Employment News
Tags : Budget Central Services Comptroller & Auditor General Election Commission Finance Commission National Development Council NITI AYOG Public Service Commission
