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Financial Powers of Parliament

Which authori...

Question

Which authority recommends the principles governing the grants-in-aid of the revenues of the States out of the Consolidated Fund of India?

A

Public Accounts Committee

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B

Union Ministry of Finance

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C

Finance Commission

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D

Inter State Council

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Solution

The correct option is C Finance Commission
Finance Commission is a constitutional Body and it is constituted by the President. It is set up every five years or before. It lays down rules by which Centre should provide grants in aid to states out of consolidated fund of India and suggest measures to increase the resources of State.

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Similar questions

Q. With respect to the terms of reference of the FC, consider the following statements
1. It recommends both vertical and horizontal devolution of tax revenue
2. Principles governing grant-in-aid to states by the centre
3. Measures needed to augment consolidated fund of India

Q. Consider the following statements about Finance Commision :

1. It recommends the distribution of the net proceeds of taxes to be shared between the Centre and the states, and the allocation between the states of the respective shares of such proceeds.
2. It recommends the principles that should govern the grants-in-aid to the states by the Centre (i.e., out of the consolidated fund of India).
3. The recommendations made by the Finance Commission are only of advisory nature and hence, not binding on the government.

Which of the above statements is/ are correct ?

Q. Grants-in-aid of revenue to the states is recommended by the ____________.

Q. The sources of revenue of the Municipal Council include property tax, grants from State Government, ________________.

Q. Q. Consider the following statements with respect to Finance Commission (FC):Which of the statements given above is/are correct?

Both 1 and 2
Neither 1 or 2
2 only
1 only

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