Question
Download Solution PDFWhich of the following article of Indian Constitution is related to the Finance Commission of India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Article 280 of the Indian Constitution is related to the Finance Commission of India.
- The Finance Commission is constituted by the President of India every five years.
- Its purpose is to define the financial relations between the central government and the individual state governments.
- The Finance Commission makes recommendations on the distribution of tax revenues between the Union and the States and among the States themselves.
- It also addresses issues related to grants-in-aid to the states from the Consolidated Fund of India.
Additional Information
- The Finance Commission is a constitutional body for the purpose of allocation of certain revenue resources between the Union and the State Governments.
- It was established under Article 280 of the Indian Constitution.
- The first Finance Commission was constituted in 1951.
- The Sixteenth Finance Commission was constituted on 31.12.2023 with Shri Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman.
- The recommendations made by the Finance Commission are advisory in nature and not binding on the government.
- It plays a critical role in maintaining a stable and efficient fiscal federal structure in India.
Last updated on Jun 30, 2025
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