Question: Who among the followings is authorized to constitute a Finance Commission under the provisions of Article 280 in the Constitution of India?
(a) Finance minister
(b) President of India
(c) Prime Minister
(d) Vice President
Answer: (b)
Related facts:-
- The 15th Finance Commission submitted the report of the Commission for the financial year 2020-21 for further action.
- It was submitted by Chairman N.K. Singh and members of the commission.
- The final report for the period 1 April 2021 to 31 March 2026 will be submitted by 30 October 2020.
- It should be noted that on 27 November 2017; the 15th Commission was constituted by the President of India under Article 280 of the Constitution.
- The commission was formed to make recommendations for a period of five years from 1 April 2020 to 31 March 2025.