New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Finance Commission is reconstituted at the interval of

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    A 1) 2 years Correct Answer Incorrect Answer
    B 2) 5 years Correct Answer Incorrect Answer
    C 3) 10 years Correct Answer Incorrect Answer
    D 4) It is a permanent body Correct Answer Incorrect Answer
    E 5) It depends on the government Correct Answer Incorrect Answer

    Solution

    The Finance Commission came into existence in 1951. It was established under Article 280 of the Indian Constitution by the President of India. It was formed to define the financial relations between the centre and the state. The commission is appointed every five years and consists of a chairman and four other members.

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