Question : Which type of institution is the Finance Commission?
Option 1: Statutory Commission
Option 2: Constitutional institutional
Option 3: Non Constitutional institution
Option 4: No option is correct
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Correct Answer: Constitutional institutional
Solution : Correct Answer is - Constitutional institutional
According to Article 280 of the Indian Constitution, the Finance Commission is a quasi-judicial body. The Finance Commission is established by the Indian President every five years, or earlier if he sees fit. The Finance Commission Act of 1951 established the Finance Commission in India.
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