Consider the following statements with regard to the Finance Commission 1 It add...........

Indian Polity Centre - State Relations

Consider the following statements with regard to the Finance Commission

1. It addresses the vertical imbalances between the taxation powers and expenditure responsibilities of the centre and the States respectively

2. It works for equalization of public services across the states.

3. Its recommendations in respect of sharing of Profit, Petroleum, Debt Relief, Mode of Central Assistance, etc. are implemented by executive orders.

Which of the statements given above are correct?

All of above

1 and 2

2 and 3

1 and 3

छोटे Courses बड़े Results

Master Centre - State Relations

Prepare through Micro-courses

Try Now

Explanation:

All the statements are correct.
Finance Commission of India is established by President of India as per Article 280 of the constitution. The first finance commission was established in 1951. The Constitutional requirement for setting up a Finance Commission in India was an original idea, not borrowed from anywhere. That is why it is called the original contribution.