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🤔தெரிந்து கொள்வோம் - Finance Commission of India (Article 280)| ( Complete Notes Laxmikanth Style) What is Fnance Commission? body created to manage The Finance Commission is a constitutional financial relations between the Centre and the States Established under Article 280 of the Indian Constitution balancing wheel of fiscal federalism Acts as the Purpose: | To ensure fair distribution of money between: Centre States Union Government State Governments India is federal Powers divided Centre earns more, States spend more But tax powers unequal Finance Commission corrects this imbalance 2 Nature of the Body Constitutional Body Quasi-Judicial Body Advisory Body (Recommendations NOT binding) Temporary Body (Not Permanent) 3 Appointment & Tenure Appointed by President of India Every 5 years or earlier Constituted First Finance Commission 1951 (K.C.Neogy) Finance Commission of India (Article 280)| ( Complete Notes Laxmikanth Style) What is Fnance Commission? body created to manage The Finance Commission is a constitutional financial relations between the Centre and the States Established under Article 280 of the Indian Constitution balancing wheel of fiscal federalism Acts as the Purpose: | To ensure fair distribution of money between: Centre States Union Government State Governments India is federal Powers divided Centre earns more, States spend more But tax powers unequal Finance Commission corrects this imbalance 2 Nature of the Body Constitutional Body Quasi-Judicial Body Advisory Body (Recommendations NOT binding) Temporary Body (Not Permanent) 3 Appointment & Tenure Appointed by President of India Every 5 years or earlier Constituted First Finance Commission 1951 (K.C.Neogy) - ShareChat