{"id":92989,"date":"2025-06-01T11:38:11","date_gmt":"2025-06-01T11:38:11","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=92989"},"modified":"2025-06-01T11:38:11","modified_gmt":"2025-06-01T11:38:11","slug":"which-one-of-the-following-statements-about-the-finance-commission-is","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-statements-about-the-finance-commission-is\/","title":{"rendered":"Which one of the following statements about the Finance Commission is"},"content":{"rendered":"

Which one of the following statements about the Finance Commission is not correct?<\/p>\n

[amp_mcq option1=”It is a Constitutionally mandated body, set up under Article 280 of the Constitution of India.” option2=”The 14th Finance Commission was set up in 2017 against the backdrop of the introduction of GST.” option3=”Its core responsibility is to evaluate the state of finances of the Union and the State Governments.” option4=”The first Finance Commission was set up in 1951.” correct=”option2″]<\/p>\n

\n
\n
This question was previously asked in<\/div>\n
UPSC CISF-AC-EXE – 2021<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nThe correct answer is B) The 14th Finance Commission was set up in 2017 against the backdrop of the introduction of GST.
\n<\/section>\n
\nStatement A is correct: The Finance Commission is a constitutional body established under Article 280 of the Constitution of India.
\nStatement D is correct: The first Finance Commission was constituted in 1951.
\nStatement 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.
\nStatement 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.
\n<\/section>\n
\nThe Finance Commission makes recommendations on the distribution of net proceeds of taxes between the Union and the States (vertical devolution) and the allocation of shares among the States (horizontal devolution), principles governing grants-in-aid to the States by the Centre, and measures needed to augment the Consolidated Fund of a State to supplement the resources of Panchayats and Municipalities.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Which one of the following statements about the Finance Commission is not correct? [amp_mcq option1=”It is a Constitutionally mandated body, set up under Article 280 of the Constitution of India.” option2=”The 14th Finance Commission was set up in 2017 against the backdrop of the introduction of GST.” option3=”Its core responsibility is to evaluate the state … <\/p>\n

Detailed SolutionWhich one of the following statements about the Finance Commission is<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[1110,1099,1390],"class_list":["post-92989","post","type-post","status-publish","format-standard","hentry","category-upsc-cisf-ac-exe","tag-1110","tag-indian-polity-and-governance","tag-the-finance-commission","no-featured-image-padding"],"yoast_head":"\nWhich one of the following statements about the Finance Commission is<\/title>\n<meta name=\"description\" content=\"The correct answer is B) The 14th Finance Commission was set up in 2017 against the backdrop of the introduction of GST. Statement A is correct: The Finance Commission is a constitutional body established under Article 280 of the Constitution of India. 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.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-statements-about-the-finance-commission-is\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which one of the following statements about the Finance Commission is\" \/>\n<meta property=\"og:description\" content=\"The correct answer is B) The 14th Finance Commission was set up in 2017 against the backdrop of the introduction of GST. Statement A is correct: The Finance Commission is a constitutional body established under Article 280 of the Constitution of India. 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.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-statements-about-the-finance-commission-is\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T11:38:11+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Which one of the following statements about the Finance Commission is","description":"The correct answer is B) The 14th Finance Commission was set up in 2017 against the backdrop of the introduction of GST. 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