Which one of the following statements about the Finance Commission is not correct?
It is a Constitutionally mandated body, set up under Article 280 of the Constitution of India.
The 14th Finance Commission was set up in 2017 against the backdrop of the introduction of GST.
Its core responsibility is to evaluate the state of finances of the Union and the State Governments.
The first Finance Commission was set up in 1951.
Answer is Right!
Answer is Wrong!
This question was previously asked in
UPSC CISF-AC-EXE – 2021
Statement D is correct: The first Finance Commission was constituted in 1951.
Statement C is correct: A core responsibility of the Finance Commission is to evaluate the state of finances of the Union and State Governments and recommend the distribution of tax revenues.
Statement B is incorrect: The 14th Finance Commission was set up in 2013 under the chairmanship of Dr. Y. V. Reddy and its recommendations covered the period 2015-2020. The 15th Finance Commission was set up in November 2017 under the chairmanship of N. K. Singh, and its recommendations cover the period 2020-2025. The introduction of GST happened in July 2017, which was against the backdrop of the setting up of the *15th*, not the 14th, Finance Commission.