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Which of the following statement is correct about "State finance commission"?

1) It is mentioned under the article 242 of the Indian constitution.

2) Its function includes reviewing the economic condition of the various Panchayati raj institutions only.


1. Only 1
2. Only 2
3. Both 1 and 2
4. Neither 1 nor 2

1 Answer

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Best answer
Correct Answer - Option 4 : Neither 1 nor 2

The correct answer is Neither 1 nor 2.

  • State finance commission is a constitutional body mentioned in the article 243-I of the Indian constitution.
  • The governor of the state is required to constitute a finance commission every five years.
  • A state finance commission has functions similar to the central finance commission.
  • The body is responsible to allocate resources of a state to its Panchayati Raj institutions and municipal bodies that are in the state.
  • It also makes recommendations to the governor about the tax proceeds such as taxes, levies, duties, toll fees collected by the state between the state and it's Panchayati Raj institutions at all three levels.
  • Article 243-Y of the Indian constitution brought municipalities under the purview of the state finance commission.

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