Question : Which of the following institutions is mandated by the Constitution to make recommendations to the President on the principles which should govern the grants in-aid of the revenues of the States out of the Consolidated Fund of India?
Option 1: Finance Commission
Option 2: Department of Expenditure
Option 3: Reserve Bank of India
Option 4: Law Commission
Correct Answer: Finance Commission
Solution : The correct answer is the Finance Commission .
The President constitutes the Finance Commission, a body established by the Constitution. It establishes guidelines for how the Centre should allocate funds from the India Consolidated Fund to the states as aid and makes recommendations for ways to boost state resources.
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Question : Which authority recommends the principles governing the grants in -aid of revenues of the states out of the consolidated fund of india?
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