The Terms of Reference of the Finance Commission require it to recommend grants-in-aid to the States. These grants include:
- Revenue deficit grants,
- Grants to local bodies, and
- Disaster management grants.
Further Reading:
| Related Links | |
| UPSC MCQ | Indian Polity Notes |
| Financial Relations Between Centre and State | Cash-Reserve Ratio |
| Comptroller & Auditor General (CAG) | Balance of Payment (BoP) |
Comments