Question

Which among the following commission has been constituted to recommend the distribution of the net proceeds of taxes between the Centre and states?
1. Finance Commission
2. Central Vigilance Commission 
3. CSO
4. None

Answer 1

Correct Answer - Option 1 : Finance Commission

The Correct Answer is Option 1 i.e Finance Commission.

• Finance Commission:
  • Finance Commission is a constitutional body.
  • Finance Commission was constituted to recommend the distribution of the net proceeds of taxes between the Centre and states, and among the states.
  • It was established under Article 280 of the Indian Constitution.
  • The Commission was constituted for every five years by the President.
  • The Commission consists of five members including the chairperson.
  • As of July 2020, Nand Kishore Singh was the current chairperson of 15th Finance Commission.
• Central Vigilance Commission (CVC):
  • CVC is a statutory body established in the year 1964.
  • It was conferred with statutory status in the year 2003.
  • Sanjay Kothari is the new chairman of CVC, as of July 2020.
• Central Statistics Office (CSO):
  • It is under the  Ministry of Statistics and Programme Implementation.
  • The CSO is located in Delhi.
  • It is responsible for the compilation of National Accounts Statistics (NAS).