Consider the following statements about recently constituted 15th Finance Commission 1 It will be he...........

Economic Affairs Financial Institutions

Consider the following statements about recently constituted 15th Finance Commission

1.It will be headed by Parthasarathi Shome.

2.It will make recommendations for the period from April 2020 to March 2025.

3.The Commission is entrusted with the sole responsibility of making recommendations on sharing of resources between Centre and States.

Which of the statements given above is/are correct?

2 only

1 and 2 only

2 and 3 only

All of the above

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Explanation:

2 only

The statement about the head of the 15th Finance Commission is incorrect. The 15th Finance Commission is headed by N. K. Singh, not Parthasarathi Shome.

The statement about making recommendations for the period from April 2020 to March 2025 is correct.

The statement about the Commission being entrusted with the sole responsibility of making recommendations on sharing resources between the Centre and States is not CORRECT. While resource sharing is a significant part of its mandate, the Commission also has other terms of reference, including examining the impact of the 14th Finance Commission recommendations.