Question : Which authority recommends the principles governing the grants in -aid of revenues of the states out of the consolidated fund of india?
Option 1: public accounts committee
Option 2: union ministry of finance
Option 3: Finance Commission
Option 4: inter-state council
Correct Answer: Finance Commission
Solution : The Correct Answer is Finance Commission
A constitutional body, the Finance Commission is established by the President. The Central Finance Commission (CFC) is required by Article 280(3)(C) of the Constitution to recommend actions to increase the Consolidated Fund of a State to supplement the resource of Municipalities based on the recommendations of the respective SFCs. It lays out the guidelines by which the Centre should distribute grants in aid to states from the Consolidated Fund of India and suggests steps to boost state resources.
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