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What is/are true in reference to the Finance Commission? (i) There are total 5 members in Commission (ii) At least one member of Commission must be Judge of High Court or Supreme Court  (iii) The Chairman of Commission cannot be reappointed (iv) First Chairman of Commission was K. Santhanam

What is/are true in reference to the Finance Commission? (i) There are total 5 members in Commission (ii) At least one member of Commission must be Judge of High Court or Supreme Court  (iii) The Chairman of Commission cannot be reappointed (iv) First Chairman of Commission was K. Santhanam Correct Answer Only (i)

The correct answer is Only (i).

Key PointsFinance Commission:

  • Article 280 of the Constitution of India provides for a Finance Commission as a quasi-judicial body. 
  • It is constituted by the president of India every fifth year or at such an earlier time as he considers necessary.
  • The Finance Commission consists of a chairman and four other members to be appointed by the president. Hence statement (I) is correct.
  • According to Article 280 (2) of the constitution, Parliament may by law determine the qualifications which shall be requisite for appointment as members of the Commission and the manner in which they shall be selected. Hence, it is not necessary that at least one member of the Commission must be a Judge of the High Court or Supreme Court. Hence statement (II) is incorrect.
  • They hold office for such a period as specified by the president in his order.
  • They are eligible for reappointment. Hence statement (III) is incorrect.
  • Accordingly, the Parliament has specified the qualifications of the chairman and members of the commission.
  • The First Chairman of the Commission was K. C. Neogy and Fifteenth Chairman is N. K. Singh. Hence statement (IV) is incorrect.

Additional InformationFinance Commission Composition  

  • 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 the high court or one qualified to be appointed as one.
    • A person who has specialized knowledge of finance and accounts of the government.
    • A person who has wide experience in financial matters and administration.
    • A person who has special knowledge of economics.
  • The prominent function of FC is the distribution of the net proceeds of taxes to be shared between the Centre and the states, and the allocation between the states of the respective shares of such proceeds.
  • Under Article 279 -“net proceeds” of any tax or duty, or any part of any tax or duty, in or attributable to any area shall be ascertained and certified by the Comptroller and Auditor-General of India, whose certificate shall be final.

Related Questions

Consider the following statements: 1. The Chief Justice of India can appoint a judge of a High Court as an ad hoc judge of the Supreme Court for a temporary period. 2. The chief justice of India can request a retired judge of the Supreme Court or a retired judge of a high court to act as a judge of the Supreme Court for a temporary period. Which of the above-given statements is/are correct?
Which of the following statements is/are correct about the Finance Commission of India? 1. The eligibility of members of the Finance Commission is determined by the President. 2. The First Finance Commission was constituted in 1951. 3. The President of India constitutes the Finance Commission every 5 years. 4. Chairman of Finance Commission submits his report to the Parliament of India.
A five-judge bench of the Supreme Court passes judgment in a matter. In a later case before a high court, a party presents the Supreme Court judgment as a binding authority. The opposing party claims that the high court is not bound by the Supreme Court's judgment because relevant provisions of law were not brought to the notice of the Supreme Court in that case. Which of the following is most correct in this case?
Principle: Article 141 of the Constitution provides that the law declared by the Supreme Court is binding on all courts within the territory of India.
Which of the following statements are correct? Answer by using the code given below:
1. Persons in Govt/Judicial service need not resign to participate in District judge selection process held in "Vijay Kumar Misra and another v. High Court of Judicature at Patna" by the Supreme Court of India
2. The Supreme Court of India held in S. Kazi v. Muslim Education Society that " All Tribunals are not necessary parties to the proceedings where legality of its orders challenged"
3. The Supreme Court of India observed in Cardanumom Marketing Corporation and others v. State of Kerala and others that Social Security to the legal profession becomes an essential part of legal system
4. The Supreme Court of India held in 'Union of India v. Rajasthan High Court and others that High Court judges are exempted from Airport frisking.
Consider the following statements to answer this question.
1. Parliament cannot extend the jurisdiction and power of the Supreme Court.
2. No discussion can take place in Parliament with respect to the conduct of judge of the Supreme Court in discharge of the duties.
3. A retired judge of the Supreme Court cannot appear or plead in any court or before any authority within the territory of India.
4. The salaries and allowances of the Supreme Court are fixed by the Constitution and charged on the Consolidated Fund of India.
Which of these statement are correct?
Which of the following statements is/are not correct about the State Finance Commission of Uttar Pradesh– 1. Fifth Finance Commission is under operation in the state. 2. The Chairman of the fifth Finance Commission is Aanand Mishra. 3. First State Finance Commission was formed in 1994. 4. State Finance Commission is formed under the article-243 (I) of the Indian Constitution.
With reference to the Finance Commission of India, consider the following statements: 1. The Finance Commission is a statutory body. 2. The Finance Commission was set up under Article 280 of the Constitution. 3. The recommendations made by the Finance Commission are only advisory in nature. 4. The first Finance Commission was set up in 1950. Which of the above statements are correct?
The National Human Rights Commission has : 1. A chairperson who has been a Chief justice of Supreme Court or a High Court of India 2. one Member who is or has been a Judge of Supreme Court 3. one Member who is, or has been the Chief Justice of a High Court 4. two Members to be appointed from amongst persons having knowledge of or practical experience in matters relating to human rights Select the correct answer using the code given below:
Consider the following statements: 1. The motion to impeach a Judge of the Supreme Court of India cannot be rejected by the Speaker of the Lok Sabha as per the judges (Inquiry) Act, 1968. 2. The Constitution of India defines and gives details of what constitutes 'incapacity and proved misbehaviour' of the Judges of the Supreme Court of India 3. The details of the process of impeachment of the Judges of the Supreme Court of India are given in the Judges (Inquiry) Act, 1968. 4. If the motion for the impeachment of a Judge is taken up for voting, the law requires the motion to be backed by each House of the Parliament and supported by a majority of total membership of that House and by not less than two-thirds of total members of that House present and voting. Which of the statements given above is/are correct?
What is not true about the Rajasthan State Human Rights Commission?
Read the following statement and select the correct answer from given below :
1. The commission became fully functional from May 2000.
2. The commission comprises of one full-time chairman and two members.
3. A former chief justice or a former judge of a high court can become chairman of the commission.
4. Justice A.S. Godara was the chairman of the commission from July 2000 to July 2005.