The correct answer is: C. 6 years
The Finance Commission is a constitutional body constituted every five years to review the financial relations between the Union and the States and to make recommendations to the President on the distribution of revenues between the Union and the States, the principles governing grants-in-aid to the States, and the measures needed to augment the Consolidated Fund of India.
The Finance Commission was first constituted in 1951. The current Finance Commission is the 15th Finance Commission, which was constituted in 2020. The 15th Finance Commission is headed by N. K. Singh.
The Finance Commission is an independent body and its recommendations are binding on the Union and the States. The Finance Commission has played a vital role in the development of the Indian economy. Its recommendations have helped to improve the financial position of the States and to promote economic growth.
The Finance Commission is a powerful body and its recommendations have a significant impact on the Indian economy. The Finance Commission is a constitutional body and its recommendations are binding on the Union and the States. The Finance Commission has played a vital role in the development of the Indian economy. Its recommendations have helped to improve the financial position of the States and to promote economic growth.
The following are the options for the question:
- A. 3 years: This is incorrect because the Finance Commission is constituted every five years.
- B. 5 years: This is the correct answer.
- C. 6 years: This is incorrect because the Finance Commission is constituted every five years.
- D. 4 years: This is incorrect because the Finance Commission is constituted every five years.