• Statement 1 is correct: Under the Rules of Lok Sabha, the Speaker nominates from amongst the members a panel of not more than ten chairpersons. • Statement 2 is incorrect: There is no head of the panel of the chairpersons, any of them can preside over the House in the absence of the Speaker or the Deputy Speaker. • Statement 3 is correct: The member of the panel of chairpersons cannot preside over the House if the office of the Speaker or Deputy Speaker is vacant. Hence members of the panel of the chairpersons can only preside over the House in the absence of the Speaker or Deputy Speaker and not when the office is vacant. • Statement 4 is correct: When the office of the Speaker or the Deputy speaker is vacant, during such times, the Speaker’s duties are to be performed by such members of the House as the President may appoint for the purpose.
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The Finance Commission is constituted as a constitutional body under Article 280, it is a quasi-judicial body.
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Tata is an emeritus Indian Firm.
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A significant half of Indi...