Political Science(GS) Commissions in India-Finance Commission Revision (Page 1 of 1)

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Functions of Finance Commission of India

The Commission, every five years, gives decision on the sharing of the funds between the Union and the States as well as the grants that will be given by Union to all the states.

Also any financial matter which is… (65 more words) …

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About Finance Commission of India

Finance Commission of India was formed in the year 1951 under Article 280 of the Constitution as per the world standards to manage how the funds, revenues and expenses will be distributed and allotted to all the states and the… (23 more words) …

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Powers of Finance Commission of India

The Finance Commission is entitled to all powers relating to the Civil Court as per the Code of Civil Procedure, 1908 as per which it can summon any witness or can order to produce any document, voucher from any court… (21 more words) …

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Composition of Finance Commission of India

The Finance Commission of India includes a Chairman, who leads the Commission, along with four other members and a Secretary.

The Indian Parliament has to decide what qualifications and method of recruitment will be attended to, to appoint the members.… (161 more words) …

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Formation of Finance Commission of India

Article 280 of the Constitution of India gives the provisions as to how this Commission will be set up which are:

The President is responsible at the end of every five years or in between, whichever he thinks suitable, has… (101 more words) …

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