MCQ Finance Commissions [Central & States] SET 3ALL MCQ For Finance Commissions [Central & States] 1. Which one of the following institutions will lay down the basic principles for the distribution of the net proceeds of the taxes between the Union and States?Planning CommissionFinance CommissionUnion Ministry of FinanceNational Development CouncilQuestion 1 of 102. Who among the following was the Chairman of 14th Finance Commission?Shanta KumarY.V. ReddyC. RangarajanNone of the aboveQuestion 2 of 103. The main functions of Finance Commission is __________.To determine the part of States in central taxes and to determine the principles of financial aid given by the Centre to StatesFinancial control over CentralFinancial control over StatesNone of the aboveQuestion 3 of 104. Which one of the following statements about a State Finance Commission is true?It is an informal bodyIt is an Administrative bodyIt is a Constitutional bodyNone of the aboveQuestion 4 of 105. After the commencement of the Constitution how many Finance Commissions have been constituted?109158Question 5 of 106. Which one of the following is not a function of the Finance Commission in India?Devolution of Income TaxAward of grants-in-aidDevolution of Trade TaxDevolution of Excise DutyQuestion 6 of 107. The Finance Commission consists of a Chairman and _________.Seven other membersFour other membersFive other membersSuch other members as may be decided by the President from time-to-timeQuestion 7 of 108. Main agency to resolve the fiscal disputes between the Centre and States is ________.Supreme CourtFinance MinisterFinance CommissionLaw MinisterQuestion 8 of 109. According to the 14th Finance Commission, the percentage share of States in the net proceeds of the shareable Central tax revenue should be __________.32%40%35%42%Question 9 of 1010. Which one of the following statements about a State Finance Commission is true?It is an informal bodyIt is an Administrative bodyIt is a Constitutional bodyNone of the aboveQuestion 10 of 10 Loading...
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