Question
Download Solution PDFThe State Finance Commission is appointed every ____ years by the _____.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 5, state government.
State Finance Commissions (SFCs):
- The State Finance Commission (SFC) is created by the 73rd and 74th Constitutional Amendments to manage State level fiscal relations in India.
- Under Article 243-I of the Constitution of India, the governor of a state is required to constitute a Finance Commission every five years.
- It decides the resource allocation between the state government and the Panchayati Raj Institutions.
- It allocates resources to Panchayati Raj institutions at all three levels in terms of taxes, duties and levies to be collected by the state and the local bodies.
- Article 243Y:- SFC shall also review the financial position of the Municipalities and Panchayats and make recommendations to the Governor about the principles that should govern the distribution of tax collected by the state.
- It also recommends about:
- Grants-in-aid to Panchayati Raj Institutions from the consolidated fund of a state.
- Ways to improve the financial position of the Panchayati Raj Institutions.
Last updated on Jun 13, 2025
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