[amp_mcq option1=”Central government grants to Manipur” option2=”Manipur’s borrowing limits” option3=”Tax rates in Manipur” option4=”None of the above” correct=”option1″]<\/p>\n
The correct answer is: a) Central government grants to Manipur.<\/p>\n
The Finance Commission of India is an independent body constituted by the President of India every five years to review the financial position of the Union and the States and to make recommendations to the President on the distribution of net proceeds of taxes between the Union and the States, the principles which should govern grants-in-aid to the States, the measures needed to augment the Consolidated Fund of a State to supplement its revenues from its own sources and any other matter referred to it by the President in the interests of sound finance.<\/p>\n
The Finance Commission has played a significant role in determining the central government grants to Manipur. In its 15th report, the Finance Commission recommended that the central government should provide a grant of \u00e2\u0082\u00b91,000 crore to Manipur for the 2022-23 financial year. This grant is intended to help Manipur meet its developmental needs and to improve the quality of life of its people.<\/p>\n
The other options are incorrect. Option b) is incorrect because the Finance Commission does not have the power to determine Manipur’s borrowing limits. Option c) is incorrect because the Finance Commission does not have the power to determine tax rates in Manipur. Option d) is incorrect because the Finance Commission does play a role in determining central government grants to Manipur.<\/p>\n","protected":false},"excerpt":{"rendered":"
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