Question
Which of the following statements is/are correct
regarding the 16th Finance Commission (FC)? 1. It is established under Article 280 of the Indian Constitution. 2. It focuses on fiscal devolution to panchayats and municipalities post the 73rd and 74th amendments. 3. The Finance Commission directly allocates funds to urban local bodies (ULBs).Solution
• Statement 1: Correct. Article 280 establishes the Finance Commission. • Statement 2: Correct. It focuses on empowering panchayats and municipalities post the constitutional amendments. • Statement 3: Incorrect. The Finance Commission recommends fund allocation to the states, which then distribute to ULBs.
What is the full form of TReDS?
Which of the following statements does not represent a true characteristic of a company under the Companies Act, 2013?
ABC Bank Ltd has extended a Rs.10 crore loan at 5% over the repo rate. The loan is to be repaid in equal quarterly instalments. The bank’s funding of ...
Why is diversity training important in the workplace?
If the Current Assets are less than Current liabilities by 5000, what is the amount of Net Working Capital?
What is "Flipping" in the context of entrepreneurship?
Which of the following is not a resolution method under RBI’s Prudential Framework for stressed assets?
What recent amendment has the government made to the foreign direct investment (FDI) policy in the space sector?
Which of the following is one of important objective behind the Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE) ?
MNO Ltd got its bond rated by a credit rating agency. The rating given to the bond was lsquo;AA-lsquo;. What does this rating indicate?
Relevant for Exams:
