Which of the following are the essential requirements for a person to be appointed as a member of Finance Commission?
- 1. A Supreme Court judge or one qualified to be appointed as such
- 2. A person having wide experience in financial matters and administration
- 3. A person having special knowledge of economics
Select the correct answer using the code given below :
The Finance Commission (Miscellaneous Provisions) Act, 1951 lays down these qualifications. It states that the Chairman should be a person who has had experience in public affairs. The other four members shall be selected from among persons who are:
1. a Judge of a High Court or one who is qualified to be appointed as a Judge of a High Court;
2. persons who have special knowledge of the finances and accounts of Government;
3. persons who have had wide experience in financial matters and in administration;
4. persons who have special knowledge of economics.
Let’s check the given statements against these qualifications:
1. A Supreme Court judge or one qualified to be appointed as such. The Act specifies High Court judge or qualified to be High Court judge. This statement is incorrect as it mentions Supreme Court instead of High Court.
2. A person having wide experience in financial matters and administration. This matches qualification number 3 in the Act. This statement is correct.
3. A person having special knowledge of economics. This matches qualification number 4 in the Act. This statement is correct.
Based on the Finance Commission (Miscellaneous Provisions) Act, 1951, statements 2 and 3 describe essential requirements for members (other than the Chairman). Statement 1 is inaccurate regarding the court level specified in the Act.