It shall be the duty of the Commission to make recommendations to the President as to 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. The President shall, within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier time as the President considers necessary, by order constitute a Finance Commission which shall consist of a Chairman and four other members to be appointed by the President. Two different features of Commission work include redressing the vertical imbalance between the powers, and the responsibility of expenditure of the center and State respectively, and the equalization of all public service across all the states. The Finance Commission of India is established by the President under Article 280 of the constitution, primarily to give its recommendations on the distribution of tax revenue between the Union and State and among the States themselves. The suggestions given by the Finance Commission were also regulated towards improving the quality of public spending and promoting fiscal stability. The working of the Finance Commission of India is characterized by the seizable and rigorous consultation with all levels of government, hence reinforcing the principle of corporate federalism. Established under Article 280 of the Constitution, the core responsibility of the Finance Commission of India is to evaluate the state of finances of the Union and State Government, suggesting the share of taxes between them, formulating the principles determining the share of taxes between the States. The Finance Commission is a constitutionally mandated body established by the President of India to give recommendations on Centre-State Financial relations.
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