About which matters Finance Commission presents its recommendations to the President 1 nbs...........

Indian Polity Constitutional Bodies

About which matters Finance Commission presents its recommendations to the President?

1. Distribution of net income from the taxes to center and sates and allocation of such income to the states according to their parts.

2. About the governing principles of grant-aid to assist the states in their revenue from the Consolidated Fund of India.

3. To supplement the resources of state Panchayats, methods to enhance the Consolidated Fund of the State.

Select the correct answer with the help of below mentioned code:

Only 1 and 2

Only 2 and 3

Only 1 and 3

1, 2 and 3

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Explanation:

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;
•    the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India;
•    the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats in the State on the basis of the recommendations made by the Finance Commission of the State;
•    the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State;
•    any other matter referred to the Commission by the President in the interests of sound finance.
The Commission determines its procedure and have such powers in the performance of their functions as Parliament may by law confer on them.