GENERAL KNOWLEDGE

GK

PUBLIC ADMINISTRATION

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

The recommendations of the 1st Finance Commission will be for a period of five years starting from which date?

A	1-4-2008
B	1-4-2009
C	1-4-2010
D	1-4-2001

Explanation:

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.

There is 1 question to complete.