Which of the following statements is INCORRECT about

the Finance Commission?

A Its work involves redressing the vertical imbalances between the taxation powers and expenditure responsibilities of the Centre and the States, respectively.

B It recommends measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats.

C It gives its recommendations on the distribution of tax revenues between the Union and the States only and not among the states.

D It is constituted by the President under Article 280 of the Constitution.

Practice Next

More Microeconomics Section Tests Questions

When is the National Pension day celebrated in India?
NITI Aayog has constructed the SDG India Index spanning across 13 out of 17 SDGs as prescribed by UNO. Which of the following SDG goals of UNO is left o...
Which country is NOT amongst IFFCO’s international operational bases?
What is the full form of UNCED?
The first day of the Tamil calendar on 14 April is celebrated as________.
Which bacterium is used to turn milk to curd?
Which institution is credited with developing India's inaugural hyper-velocity expansion tunnel named 'Jigarthanda' (S-2)?
Which Indian state celebrates the Rann Utsav, also known as the White Desert Festival, annually from the end of November till New Year's February?
______ book has been penned down by the author Devdutt Pattanaik?
Ukai Dam is located in ________

Which of the following statements is INCORRECT about

Solution