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Who among the following was the Chairman of 14th Finance Commission?
1. Shanta Kumar
2. C. Rangrajan
3. Y.V. Reddy
4. None of the above

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Correct Answer - Option 3 : Y.V. Reddy

The correct answer is Y.V. Reddy.

  • Y.V. Reddy was the Chairman of the 14th Finance Commission.
  • 14th Finance Commission:
    • The FFC has submitted its recommendations for the period 2015-16 to 2020-21.
    • Some of the major recommendations are as follows:
      • The FFC has radically enhanced the share of the states in the central divisible pool from the current 32 per cent to 42 per cent which is the biggest ever increase in vertical tax devolution.
      • The last two Finance Commissions viz. Twelfth (period 2005-10) and Thirteenth (period 2010-15) had recommended a state share of 30.5 per cent (an increase of 1 per cent) and 32 per cent (an increase of 1.5 per cent), respectively in the central divisible pool.
      • The FFC has also proposed a new horizontal formula for the distribution of the states’ share in the divisible pool among the states.
      • Relative to the Thirteenth Finance Commission, the FFC has incorporated two new variables: 2011 population and forest cover; and excluded the fiscal discipline variable.
      • The FFC has not made any recommendations.


  • The Chairman of the 15th Finance Commission is N.K. Singh.
  • Finance Commission:
    • Finance Commission is a constitutional body for the intention of allocation of certain revenue resources between the Union and the State Governments.
    • It was installed under Article 280 of the Indian Constitution by the Indian President.
    • It was constructed to define the financial relations between the Centre and the states.
    • It was formed in 1951.
    • The Finance Commission makes recommendations to the president of India on the followings:
      • The net tax proceeds dispensation to be divided between the Centre and the states, and the allocation of the same between states.
      • The principles governing the grants-in-aid to the states by the Centre out of the consolidated fund of India.
      • The steps desired to extend the consolidated fund of a state to promote the resources of the panchayats and the municipalities of the state on the basis of the recommendations made by the state Finance Commission.

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