CURRENT AFFAIRS

2017

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

Which committee submitted their reports to Finance minister recently?

A	Food committee
B	Lavasa Committee
C	Petrocarp Committee
D	Budget Committee

Explanation:

Detailed explanation-1: -The Fifteenth Finance Commission (XV-FC or 15-FC) is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01.

Detailed explanation-2: -The most recent Finance Commission was constituted in 2017 and is chaired by N. K. Singh, a former member of the Planning Commission.

Detailed explanation-3: -Detailed Solution. The Gadgil Committee recommended for the establishment of a State Finance Commission for the allocation of finances to the Panchayats. It also recommended for the establishment of the State Election Commission.

Detailed explanation-4: -The first Finance Commission was set up in 1951 and there have been fifteen so far. Each of them has faced its own unique set of challenges.

There is 1 question to complete.