Choose the correct statement s 1 The State Finance Commission determines development ...........

Indian Polity Centre - State Relations

Choose the correct statement(s)

1) The State Finance Commission determines development requirement of the state and formulating state’s 5 year plan.

2) The Finance Comission appointed by the President under Article 280 will make recommendations in regards to measures needed to augment the Consolidated Fund of a State to supplement the resources of the Municipalities.

Code

1 only

2 Only

Both 1 and 2

Neither 1 nor 2

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Explanation:

1st statement is incorrect i.e. The State Finance Commission determines development requirement of the state and formulating state’s 5 year plan.
State Finance Commission is the Constitutional body of experts on public finance and public administration appointed by each state government at regular intervals of five years under the article 243I of the Constitution to review and revise the financial position of panchayat raj institutions and urban local governments.