Question : The Finance Commission in India is appointed by
Option 1: Prime Minister of India
Option 2: President of India
Option 3: Chairman of Rajya Sabha
Option 4: Speaker of Lok Sabha
Correct Answer: President of India
Solution : The Correct Answer is- President of India
According to Article 280, the Finance Commission is a constitutional entity. A Finance Commission must be appointed by the Indian President every five years or sooner. It serves as a constitutional body that distributes certain revenue resources between the Union Government and the State Governments. Establishing a sound financial and beneficial relationship between the federal government and the state governments was the main motivation behind the establishment of the Finance Commission of India.
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