CURRENT AFFAIRS

Detailed explanation-1: -The 15th Finance Commission submits its Report for 2021-22 to 2025-26 to the President of India. The Fifteenth Finance Commission (XVFC) led by Chairman Sh N K Singh, today submitted its Report for the period 2021-22 to 2025-26 to the Hon’ble President of India. Members of the Commission, Shri Ajay Narayan Jha, Prof.

Detailed explanation-2: -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-3: -Ans. The First Finance Commission was constituted vide Presidential Order dated 22.11. 1951 under the chairmanship of Shri K.C. Neogy on 6th April, 1952.

Detailed explanation-4: -Who appoints the Finance Commission of India? Ans. The Finance Commission is appointed by the President under Article 280 of the Constitution.