GK
PUBLIC ADMINISTRATION
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1-4-2008
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1-4-2009
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1-4-2010
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1-4-2001
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Detailed explanation-1: -The commission was set up to give recommendations for five years commencing on 1 April 2020.
Detailed explanation-2: -The Tenth Finance Commission of India was incorporated in the year 1992 consisting of Shri Krishna Chandra Pant as the chairman.
Detailed explanation-3: -The Commission observed that the recommended path for fiscal deficit for the centre and states will result in a reduction of total liabilities of: (i) the centre from 62.9% of GDP in 2020-21 to 56.6% in 2025-26, and (ii) the states on aggregate from 33.1% of GDP in 2020-21 to 32.5% by 2025-26.
Detailed explanation-4: -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.