{"id":137528,"date":"2024-10-15T17:06:58","date_gmt":"2024-10-15T11:36:58","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=docs&p=137528"},"modified":"2024-12-31T18:23:22","modified_gmt":"2024-12-31T12:53:22","password":"","slug":"finance-commission-india","status":"publish","type":"docs","link":"https:\/\/pwonlyias.com\/stage\/docs\/finance-commission-india","title":{"rendered":"Finance Commission of India: Structure, Roles and Impact on Fiscal Policy"},"content":{"rendered":"

The <\/span>Finance Commission<\/b><\/a> (FC) mentioned under<\/span> Article 280<\/b>, is a <\/span>constitutional body<\/b> formed by the <\/span>President<\/b> of India every fifth year or at such earlier time as he considers necessary. It is a <\/span>Quasi-Judicial <\/b>body<\/span><\/a> mandated to make recommendations for <\/span>horizontal<\/b> and <\/span>vertical <\/b>sharing of the divisible pool of taxes between the <\/span>Union<\/b> and the<\/span> States<\/b> and determine the principles for central <\/span>grants-in-aid to states <\/b>and other such matters referred to it by the President.<\/span><\/p>\n

The Finance Commission of India<\/b><\/span><\/h2>\n

Composition<\/b>: The Finance Commission consists of a <\/span>chairman and four other members<\/b> to be appointed by the <\/span>President<\/b>. They are eligible for reappointment.\u00a0<\/span><\/p>\n