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NDA 1 2024 GAT, question 143

Topic: Polity and governance

Q143

Which of the following statements with regard to the constitution of Finance Commission is/are correct ?

  1. The Government of India has recently constituted the Sixteenth Finance Commission under the Chairmanship of Dr. Arvind Panagariya.

  2. Finance Commission is constituted in pursuance to Article 263 of the Constitution of India.

Select the answer using the code given below :

  1. (a) 1 onlyCorrect answer
  2. (b) 2 only
  3. (c) Both 1 and 2
  4. (d) Neither 1 nor 2

Solution.

Answer: (a) 1 only

  1. The Sixteenth Finance Commission was constituted with Dr Arvind Panagariya as chairman in December 2023.
  2. Its constitutional basis is Article 280, not Article 263 (which concerns an Inter-State Council).
  3. Only statement 1 is correct.