15th Finance Commission TNPSC Exam Study Notes

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15th Finance Commission TNPSC Exam Study Notes

15th Finance Commission

15th Finance Commission TNPSC Exam Study Notes

  • President of India appointed 15th Finance commission under the chairmanship of NK Singh.

What is Finance commission?

  • For every five years, president of India appoints Finance commission under Article 280 of the constitution.
  • It is a constitutional body.
    The main function of finance commission is to define financial relations between centre and states.

Members of the commission:

  • The members of finance commission consist of Chairman and four other members. The chairman should be a person having experience in public affairs and the four other members should be selected from amongst the following:
  • A judge of high court or one qualified to be appointed as judge of high court.
  • A person who has specialised knowledge of finance and accounts of the government.
  • A person who has wide experience in financial matters and in administration.
  • A person who has wider knowledge in economics.

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