New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    What is the primary function of the Finance Commission

    in India? 
    A Advise members on financial matters Correct Answer Incorrect Answer
    B Prepare the Annual Budget Correct Answer Incorrect Answer
    C Define financial relations between the Centre and the States Correct Answer Incorrect Answer
    D Allocate funds to various ministries of the Union Correct Answer Incorrect Answer

    Solution

    The Finance Commission is a constitutional body that defines the financial relations between the central government and the state governments in India. It is constituted by the President under Article 280 of the Indian Constitution every five years or earlier as necessary.

    Practice Next

    Relevant for Exams: