Question
Describe the organisation and Functions of finance Commission of India.
Answer :
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The Finance Commission of India is a constitutional body established under Article 280 of the Indian Constitution. Its primary purpose is to define the financial relations between the central government and the states. The President of India appoints the Finance Commission every five years or at such earlier time as deemed necessary. The Commission consists of a chairman and four other members who are experts in public finance, economics, or administration. Its composition ensures that decisions are made based on experience and knowledge of financial management and public systems. The main functions of the Finance Commission revolve around the distribution of financial resources between the Union and the States. One of its key functions is to recommend the sharing of net proceeds of taxes
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