The Union Finance Ministry has constituted a committee, that visit the States and union territories and submit its report by uline{1cm}

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Union Finance Ministry has constituted a committee, that visit the States and union territories and submit its report by _________

A	30 December 2016
B	7 March 2017
C	January 27 2017
D	25 November 2016

Explanation:

Detailed explanation-1: -The first Finance Commission was set up in 1951 and there have been fifteen so far.

Detailed explanation-2: -The Finance Commissions (IAST: Vitta Āyoga) are commissions periodically constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between the central government of India and the individual state governments.

Detailed explanation-3: -Articles 268-293, mentioned in Part XII of the Constitution, specifies the financial relations between the Centre and the States. Division of taxation authorities between the federal government and the states: The Parliament has the authority to charge the union list taxes.

Detailed explanation-4: -Article 268 to 293 under Part XII deals with the provisions of financial relations between Centre and States.

There is 1 question to complete.