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| Q. |
Finance Commission is constituted – |
| A. | every year |
| B. | once in four years |
| C. | once in two years |
| D. | once in five years |
| Answer» D. once in five years | |
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Explanation: The Finance Commission of India came into existence in 1951. It was established under Article 280 of the Indian Constitution by the President of India. The Finance Commission Act of 1951 states the terms of qualification, appointment and disqualification, the term, eligibility and powers of the Finance Commission. As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members. |
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