|Author: ssriyah 06 Feb 2011 Member Level: Silver Points : 2 Voting Score: 0|
The Finance Commission is appointed by the President.
Functions of the Finance Commission include:
Finance Commission duty is to recommend president regarding:
1)Distribution of net proceeds of taxes between the Union and the State.
2)Evaluating increase in the consolidated fund of a state to affix resources of Municipalities.
3)Evaluating increase in the consolidated fund of a state to affix resources of Panchayat.
|Author: Ramprasad 26 Feb 2011 Member Level: Diamond Points : 2 Voting Score: 0|
According to 280 th article the President of India appoints finance commission once for every five years .Till now 11 finance commissions are completed ,presently 12 th finance commission is appointed under the chairmanship of Sri C.Rangarajan by the President .In commission 4 members also appoints along with chairman.The main function of finance commission is the distribution of taxses share between states and central government.