The correct answer is (b) 280.
Article 280 of the Constitution of India provides for the appointment of a Finance Commission every five years to review the financial relations between the Union and the States and to make recommendations to the President. The Finance Commission is a body of experts appointed by the President of India to advise on the distribution of financial resources between the Union and the States. The Commission is also responsible for recommending principles for determining the shares of the States in the net proceeds of taxes, duties, tolls and fees leviable by the Union.
The Finance Commission was first appointed in 1951 and has been appointed every five years since then. The current Finance Commission is the 15th Finance Commission, which was appointed in 2020.
The Finance Commission plays an important role in ensuring that the financial relations between the Union and the States are fair and equitable. The Commission’s recommendations are binding on the Union and the States, and they have a significant impact on the allocation of resources between the two levels of government.
The Finance Commission is a powerful and independent body, and its recommendations are highly respected. The Commission’s work is essential to ensuring that the Indian economy is strong and prosperous.
The other options are incorrect because they do not provide for the appointment of a Finance Commission.