The Terms of Reference of the Finance Commission require it to recommend grants-in-aid to the States. These grants include:
- Revenue deficit grants,Â
- Grants to local bodies, andÂ
- 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) |
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