With respect to the Finance Commission consider the following statements 1 It can be constituted by ...........

Indian Polity Constitutional Bodies

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With respect to the Finance Commission, consider the following statements:

1.It can be constituted by the President even before the normal time gap of 5 years.

2.Its members are not eligible for reappointment.

3.Its report is laid before both the Houses of the Parliament by the President.

Which of the statements given above is/are correct?

1 and 3 Only

3 Only

1 and 2 Only

All of the above

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Explanation:

FC is constituted by the President of India every fifth year or at such earlier time as he considers necessary.

The Finance Commission consists of achairman and four other members to be appointed by the president. They hold office for such period as specified by the president in his order. They are eligible for reappointment.

The commission submits its report to the president.He lays it before both the Houses of Parliament along with an explanatory memorandum as to the action taken on its recommendations.