2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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October 30, 2020
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March 31, 2020
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July 31, 2021
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April 30, 2020
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Detailed explanation-1: -As per the terms of reference (ToR), the Commission was mandated to give its recommendations for five years from 2021-22 to 2025-26 by 30 October, 2020.
Detailed explanation-2: -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-3: -The 15th Finance Commission was constituted by the President of India in November 2017, under the chairmanship of NK Singh. Its recommendations will cover a period of five years from the year 2021-22 to 2025-26.
Detailed explanation-4: -As per the constitution, the commission is appointed every five years and consists of a chairman and four other members.
Detailed explanation-5: -Explanation: The Fifteenth Finance Commission (FC) has considered the 2011 population along with forest cover, tax effort, area of the state, and “demographic performance” to arrive at the states’ share in the divisible pool of taxes.