FINANCE COMMISION

FINANCE COMMISION

The First Finance Commission (IAST: Vitta Āyoga) was established by the President of India in 1951 under Article 280 of the Indian Constitution. It was formed to define the financial relations between the central government of India and the individual state governments.

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What is the role of Finance Commissions? A finance commission is set up very five years by the President under Article 280 of the Constitution. Its main function is to recommend how the Union government should share taxes levied by it with the states.

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What is the role of Finance Commissions?

A finance commission is set up very five years by the President under Article 280 of the Constitution. Its main function is to recommend how the Union government should share taxes levied by it with the states. These recommendations cover a period of five years. 

The commission also lays down rules by which the centre should provide grants-in-aid to states out of the Consolidated Fund of India. It is also required to suggest measures to augment the resources of states and ways to supplement the resources of panchayats and municipalities.

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Finance Commission. The Finance Commission is a constitutional body

created by the President of India under Article 280 of the Constitution of India, 1950. Its main purpose is to keep a check on the vertical and horizontal imbalances of the federal finance of India.

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The 15th Finance Commission Chairman NK Singh along with members held productive meeting with NITI Aayog Vice Chairman Rajiv Kumar, CEO Amitabh Kant and other officials.

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The Thirteenth Finance Commission of India was constituted by the President of India under the chairmanship of Vijay L. Kelkar on 13 November 2007.

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From Wikipedia, the free encyclopedia. The Fourteenth Finance Commission of India was a finance commission constituted on 2nd January 2013. Thecommission's chairman was former Reserve Bank of India governor Y. V. Reddy and its members were Sushma Nath, M. Govinda Rao, Abhijit Sen, Sudipto Mundle, and AN Jha.

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15th finance commission: Former bureaucrat NK Singh appointed as 15th Finance Commission chairman 

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The Fifteenth Finance Commission of India (XV-FC; IAST: Paṃdrahavāṃ Bhāratīya Vitta Āyoga) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and.other fiscal matters for five fiscal years, commencing on 1 April 2020. The commission's chairman is N. K.