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 Multiple Choice QuestionsMultiple Choice Questions

1. Which Article in the Indian Constitution provides for the Finance Commission?
  •  Article 323
  •  Article 280
  • Article 256
  • Article 256
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2. What is the constitution of the Finance Commission?
  • Chairman and nine elected (by Lok Sabha) members
  •  Chairman, Vice-chairman and eight nominated members
  • Chairman, and four other members appointed by the President 
  • Chairman, and four other members appointed by the President 
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3. Which of the following roles/functions/responsibilities are NOT under the purview of the Financial commission?

1. Sharing of net proceeds of taxes between the Center and States
2. Recommending principles for governing the grants-in-aid to the states by the Center 
3. Recommendations on matters referred to it by the President for the interest of sound finance 
4. Preparation and periodical revision of electoral rolls 
  • Only 1
  •  Only 2
  • Only 3 and 4
  • Only 3 and 4
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4. In which year did the Finance Commission of India came into existence?
  •  1947
  •  1948
  • 1951
  • 1951
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5. Who was the Chairman of the First Finance Commission of India that was appointed in 1951?
  • K.C. Neogy
  •  K.Santhanam
  • Y.V. Reddy
  • Y.V. Reddy


A.

K.C. Neogy
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6. The 13th Finance Commission of India, whose Chairman was Vijay Kelkar, had allocated what percentage of central tax revenues were shared by the Center with the states?
  • 56%
  • 50%
  •  70%
  •  70%
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7.  Who was the Chairman of the 13th Finance Commission of India?
  • K.C. Neogy
  • K.Santhanam
  •  Vijay Kelkar
  •  Vijay Kelkar
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