BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bimal Jalan
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Y V Reddy
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C Rangarajan
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Vijay Kelkar
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Detailed explanation-1: -The 13th Finance Commission of India was constituted by the President of India under the chairmanship of Dr Vijay L. Kelkar on 13 November 2007.
Detailed explanation-2: -Detailed Solution. The correct answer is Y.V. Reddy. Y.V.
Detailed explanation-3: -The Fourteenth Finance Commission (FC-XIV) was constituted by the President under Article 280 of the Constitution on 2 January 2013 to make recommendations for the period 2015-20. Dr. Y. V. Reddy was appointed the Chairman of the Commission.
Detailed explanation-4: -(1) Enhancing the vertical share of tax devolution from 30.5% to 32%. (2) A design for the GST and a compensation package linked to adherence to the proposed design. (3) A revised road map for scal consolidation and ensuring compliance to it by linking it to transfers.
Detailed explanation-5: -The first decision of the FC-relative share of Centre and States, is not backed by any quantitative analysis, and is simply stipulated by the FC. The States share remains roughly in the region of 30 %, with the 13th FC providing 32% to the States.