Finance Commission MCQs
Which Article of the Indian Constitution deals with the Finance Commission?
A) Article 275
B) Article 280
C) Article 285
D) Article 300
Answer: B) Article 280
How often is the Finance Commission constituted by the President of India?
A) Every 3 years
B) Every 5 years
C) Every 10 years
D) As and when required
Answer: B) Every 5 years
What is the primary function of the Finance Commission?
A) To regulate inflation
B) To recommend the distribution of tax revenues between the Union and States
C) To manage the foreign exchange reserves
D) To formulate the Union Budget
Answer: B) To recommend the distribution of tax revenues between the Union and States
Which of the following taxes is considered while distributing the net proceeds between the Centre and the States?
A) Income Tax
B) Goods and Services Tax (GST)
C) Corporate Tax
D) All of the above
Answer: D) All of the above
Who appoints the Chairman and other members of the Finance Commission?
A) Prime Minister
B) Chief Justice of India
C) President of India
D) Speaker of the Lok Sabha
Answer: C) President of India
Which of the following is NOT a responsibility of the Finance Commission?
A) Distributing grants-in-aid to states
B) Distribution of the proceeds of taxes
C) Advising on financial relations between the Centre and States
D) Approving budgets of State governments
Answer: D) Approving budgets of State governments
Who was the Chairman of the first Finance Commission of India?
A) A.K. Chanda
B) K.C. Neogy
C) Y.V. Reddy
D) N.K. Singh
Answer: B) K.C. Neogy
15th Finance Commission MCQs
Who was the Chairman of the 15th Finance Commission of India?
A) N.K. Singh
B) C. Rangarajan
C) Dr. Vijay Kelkar
D) Y.V. Reddy
Answer: A) N.K. Singh
The 15th Finance Commission made recommendations for which period?
A) 2020-2025
B) 2015-2020
C) 2021-2026
D) 2019-2024
Answer: A) 2020-2025
What was the share of states in the divisible pool of taxes recommended by the 15th Finance Commission?
A) 41%
B) 42%
C) 45%
D) 50%
Answer: A) 41%
