Introduction


The Constitution of India, Article 280 provides for the establishment of a Finance Commission by the President.It is the duty of the Finance Commission to make recommendations to the President regarding the distribution of net proceeds of taxes, principles governing grants-in-aid of the revenue from the consolidated fund of India. Step to augment the consolidated fund of India for Panchayats, any other matter referred in the interest of sound Finance.


Constitution of Finance Commission - 


   The Finance Commission shall consist of a Chairman and four other members appointed by the President. Parliament may by law prescribe qualifications which shall be requisite for appointment as a member of the commission and the manner in which they shall be selected.

    In exercise of the power under article 80(1), Indian Parliament has passed the Finance Act, 1951.It Provides that the chairman of the commission shall be elected from among person who have had experience in public affairs. The other four members shall be selected from among persons who
(1) are or have been, or are qualified to be appointed as a Judges of High Court; or

(2) have special knowledge of the Finance and accounts of Government, or

(3) have had wide experience in financial matters and in administration, or


(4) have special knowledge of Economics.


Term of Office 


  The members of the commission shall hold office for such period as may be specified in the Presidential Order and shall be eligible for reappointment.


See...Financial Bills - Kinds of Financial Bills | Constitutional Law

Finance Commission (Indian Constitution Article - 280)


       (1) The President shall, within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier time as the President considers necessary, by order constitute a Finance Commission which shall consist of a Chairman and four other members to be appointed by the President.

       (2) Parliament may by law determine the qualifications which shall be requisite for appointment as members of the Commission and the manner in which they shall be selected.

      (3) It shall be the duty of the Commission to make recommendations to the President as to-

             (a) the distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under this Chapter and the allocation between the States of the respective shares of such proceeds;

             (b) the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India;

            (bb) the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats in the State on the basis of the recommendations made by the Finance Commission of the State;

             (c) the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State;

             (d) any other matter referred to the Commission by the President in the interests of sound finance.

     (4) The Commission shall determine their procedure and shall have such powers in the performance of their functions as Parliament may by law confer on them.

See also...

Duties of Finance Commission

Ordinance making power of the President 


50 comments:

  1. Thank you for helping people get the information they need. Great stuff as usual. Keep up the great work!!! rates

    ReplyDelete
  2. I just couldn't leave your website before telling you that I truly enjoyed the top quality info you present to your visitors? Will be back again frequently to check up on new posts. link

    ReplyDelete
  3. Everyone loves your special upload. It is really superb to know any person demonstrate around thoughts while in the facility and quality in regards to this critical issue may just be conveniently found. Finance

    ReplyDelete
  4. I am happy to find your distinguished way of writing the post. Now you make it easy for me to understand and implement the concept. Thank you for the post. Accounting Assignment

    ReplyDelete
  5. This comment has been removed by the author.

    ReplyDelete
  6. A very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Azizi Jawad

    ReplyDelete
  7. that the best financial solutions are going to be those that are easy to pay back.for more info

    ReplyDelete
  8. Debt finance can come in the form of unsecured finance, such as short-term debt, townhomes for sale in waterloo line of credit financing and long term debt.

    ReplyDelete
  9. Logical works in the speculations of accounts and credit, as indicated by the detail of the examination object, are portrayed to be versatile and many-leveled.
    Moneybrighter

    ReplyDelete
  10. Second, fundamental objective of finances is a lot more extensive then "satisfaction of the state capacities and commitments and arrangement of conditions for the enlarged further creation". Credit repair

    ReplyDelete
  11. Here is another suspicious email for more info. Just one more step left and you can collect your commissions deposit of $15,000.00. Approve your deposit HERE. Once you have approved it, the transfer will take 2-3 days to hit your personal account.

    ReplyDelete
  12. This is helpful, nonetheless it can be crucial so that you can check out the following website: Finance

    ReplyDelete
  13. With Smith's sponsorship and back room moving, Walker moved to unseat the current mayor John Harlan, who was considered very skilled, if not somewhat tedious. NYC Mayor

    ReplyDelete
  14. The site is looking piece garish and it gets the guests eyes. Outline is really basic and a decent easy to use interface. R代写

    ReplyDelete
  15. There are some other ways for a borrower to obtain a mortgage. Sometimes a home-buyer chooses to take over the seller's mortgage which is called "assuming an existing mortgage". private first mortgage lenders

    ReplyDelete
  16. The alternative lender is typically a private commercial finance company with a niche in one of the various asset finance areas. WeymouthCarnival

    ReplyDelete
  17. I wanted to thank you for this excellent read!! I definitely loved every little bit of it. I have you bookmarked your site to check out the new stuff you post. einkommensnachweis

    ReplyDelete
  18. Yes i am totally agreed with this article and i just want say that this article is very nice and very informative article.I will make sure to be reading your blog more. You made a good point but I can't help but wonder, what about the other side? !!!!!!Thanks falligkeitsdarlehen

    ReplyDelete
  19. Distribution of finances as social item and the estimation of public pay, meaning of the conveyances arranged character, fundamental objectives of the economy and prudent relations, for overhauling of which it is utilized. https://www.thenexthint.com/social-media-affects-your-business-everyday/3079/

    ReplyDelete
  20. In the manual of the political economy published under reduction of V. A. Medvedev the following definition is given: "credit, as an economical category, expresses the created relations between the society, labour collective and workers during formation and usage of the loan funds, under the terms of paying present and returning, during transmission of sources for the temporal usage and accumulation". finmaxfx

    ReplyDelete
  21. I definitely enjoying every little bit of it. It is a great website and nice share. I want to thank you. Good job! You guys do a great blog, and have some great contents. Keep up the good work immigration attorney free consultation

    ReplyDelete
  22. up for his trading indicate service. The latter is definitely the faster, simpler way to deal forex when you yourself have confined or no understanding of forex at all online forex trading

    ReplyDelete
  23. A very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post.ubanker

    ReplyDelete
  24. I am typically to blogging and i actually recognize your content. The article has actually peaks my interest. I am going to bookmark your web site and maintain checking for brand new information. ブラック融資

    ReplyDelete
  25. Thanks for picking out the time to discuss this, I feel great about it and love studying more on this topic. It is extremely helpful for me. Thanks for such a valuable help again. absolutely-100-free-stuff-no-shipping-costs

    ReplyDelete
  26. Get huge discount on Home and Kitchen Appliances,Split and Window Air Conditioner, Mobiles & Laptops online , Television, Speakers & more electronics at best price.
    hindware water geyser

    ReplyDelete
  27. This comment has been removed by the author.

    ReplyDelete
  28. This comment has been removed by the author.

    ReplyDelete
  29. All things considered, a few bankers feel that the national bank purposely climbed the loan fees, as this would permit it to rebuild the monetary administrations area.Finance Blog

    ReplyDelete
  30. This comment has been removed by the author.

    ReplyDelete
  31. Really I enjoy your site with effective and useful information. It is included very nice post with a lot of our resources.thanks for share. i enjoy this post. Tax Refund Advance for Christmas

    ReplyDelete
  32. To start with, finances conquer the limits of dissemination and rearrangement administration of the public pay, however it is an essential establishment of finances. Stock tips Share market tips

    ReplyDelete
  33. Second, principle objective of finances is a lot more extensive then "satisfaction of the state capacities and commitments and arrangement of conditions for the extended further creation".finansrapport.se

    ReplyDelete
  34. Finance requires a reasonable vision that bases on its job as a decent colleague. futures-trading-systems

    ReplyDelete
  35. Finances exist on the state level and furthermore on the makes and branches' level as well, and in such conditions, when the most piece of the produces are not state. technicalanalysis

    ReplyDelete
  36. Hi there to every one, the contents present at this web site
    are in fact awesome for people knowledge, well, keep up the nice work fellows.Free VoIP Uk

    ReplyDelete
  37. Rapidly this website may irrefutably end up being well-known amongst just about all running a blog individuals, because of its persistent content articles or even evaluations. http://www.fokuszpalyazat.hu/

    ReplyDelete
  38. Different monetary establishments additionally assist money managers with escaping monetary troubles by giving transient advances. Certain co-usable social orders can orchestrate transient monetary help for financial specialists.Europa-Road túlméretes szállítás

    ReplyDelete
  39. Actually your installment history has the greatest effect on your FICO rating. Any past due records including late installments, charge-offs, and assortment records will influence your FICO assessment more than all else.St Louis debt relief

    ReplyDelete
  40. You have a good point here!I totally agree with what you have said!!Thanks for sharing your views...hope more people will read this article!!! test bank

    ReplyDelete
  41. When utilizing a moving help you need to ensure that they will treat your stuff with care and that you won't discover scraped and broken furnishings, harmed boxes, and have broken things, and so forth At the point when you recruit moving organizations to move your family unit stuff they are the ones that are answerable for its wellbeing and security from the time they load it into the truck to the time they dump it. When utilizing a moving help you need to ensure that they will treat your stuff with care and that you won't discover scraped and broken furnishings, harmed boxes, and have broken things, and so forth At the point when you recruit moving organizations to move your family unit stuff they are the ones that are answerable for its wellbeing and security from the time they load it into the truck to the time they dump it. california local moving comapny

    ReplyDelete
  42. This is my first time visit to your blog and I am very interested in the articles that you serve. Provide enough knowledge for me. Thank you for sharing useful and don't forget, keep sharing useful info: Rekomendasi Saham

    ReplyDelete
  43. Your blog provided us with valuable information to work with. Each & every tips of your post are awesome. Thanks a lot for sharing. Keep blogging.. visit yourvirtualofficelondon.co.uk

    ReplyDelete
  44. This is helpful, nonetheless it can be crucial so that you can check out the following website SEO Agency

    ReplyDelete
  45. Our team provide you online support for all the issues related to Roku streaming player. We provide step by step guidance on how to setup and activate your Roku com link account at the comfort of your house. If you need a support and services then you just visit our website and neglect all Roku problems.

    ReplyDelete
  46. Perusahaan menerbitkan (menjual) saham untuk mengumpulkan dana guna menjalankan bisnis mereka. Pemegang saham (pemegang saham) sekarang telah membeli sebagian dari korporasi dan, tergantung pada jenis saham yang dimiliki, dapat memiliki klaim atas sebagian dari aset dan pendapatannya. Dengan kata lain, pemegang saham sekarang menjadi pemilik perusahaan penerbit. Kepemilikan ditentukan oleh jumlah saham yang dimiliki seseorang relatif terhadap jumlah saham yang beredar. Misalnya, jika sebuah perusahaan memiliki 1.000 saham beredar dan satu orang memiliki 100 saham, orang tersebut akan memiliki dan mengklaim 10% dari aset dan pendapatan perusahaan. cek juga markets.co.id dan rekomendasi saham hari ini

    ReplyDelete
  47. Hello. i like the way you post on your blog.     Mati Marroni

    ReplyDelete
  48. This isn't a numerous thing of us consider when booking a get-away in the Caribbean however it is something else and a greater amount of North Americans are thinking about. del mar office space

    ReplyDelete
  49. If you set out to make me think today; mission accomplished! I really like your writing style and how you express your ideas. Thank you. short term property loan

    ReplyDelete

See Also..