The President appoints the chairman of the Finance Commission. The Chairman of the Commission shall be selected from among persons who have had experience in public affairs and the four other members shall be selected from among persons who-
- are, or have been, or are qualified to be appointed as Judges of a High Court; or
- have special knowledge of the finances and accounts of Government; or
- have had wide experience in financial matters and in administration; or
- have special knowledge of economics.