Consider the following statements regarding the finance commission:
1. Finance Commission is a quasi-judicial body.
2. The Finance Commission consists of a chairman and six other members to be appointed by the President.
3. Under article 280, the constitution mentions the qualifications of members of the commission and the manner in which they should be selected.
Which of the above statement(s) is/are correct?
The correct option is C Only 1
The Finance Commission consists of a chairman and four other members to be appointed by the president. The Constitution authorises the Parliament to determine the qualifications of members of the commission and the manner in which they should be selected. Accordingly, the Parliament has specified the qualifications of the chairman and members of the commission