Which of the following is constituted under Article 280 of the Constitution of India?
- A.Advocate General
- B.Central Vigilance Commission
- C.Finance Commission
- D.National Commission for Women
Correct answer
Explanation
The correct answer is C, Finance Commission. Article 280 requires the President to constitute a Finance Commission every fifth year, or earlier if needed, with a chairman and four other members. It recommends how the net proceeds of taxes should be divided between the Union and the states and shared among the states, what grants-in-aid the states should get from the Consolidated Fund of India, and how state funds can be strengthened to support panchayats and municipalities. The first Finance Commission was set up in 1951 under K C Neogy, and its advice is recommendatory, not binding. Option A is wrong because the Advocate General of a state is appointed under Article 165. Option B is wrong because the Central Vigilance Commission began as an executive body in 1964 and became statutory under an Act of 2003. Option D is wrong because the National Commission for Women is statutory, created by an Act of 1990. Exam tip: Article 280 Finance Commission, Article 148 CAG, Article 324 Election Commission.
Practice Questions
View allAccording to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to
- A.improve
- B.diminish
- C.remain constant
- D.first diminish and then improve
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Each extra unit of a good gives a consumer less additional satisfaction than the unit before it, so marginal utility falls as consumption rises.
Read the full explanation →Consider the following statements about impact of tax : 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply. 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand. Which of the statements given above is/are correct?
- A.1 only
- B.2 only
- C.Both 1 and 2
- D.Neither 1 nor 2
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The burden of a tax falls more heavily on whichever side of the market is less elastic, the side that cannot easily walk away.
Read the full explanation →UBI, as an alternative for subsidies in poverty alleviation, stands for
- A.Union Basic Income
- B.Undefined Basic Income
- C.Unconditional Basic Income
- D.Universal Basic Income
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UBI is the idea of paying every citizen a fixed sum of money regularly, without conditions, in place of a large number of separate subsidies and welfare schemes.
Read the full explanation →Who among the following is the Chairman of the Fourteenth Finance Commission?
- A.C. Rangarajan
- B.Vijay Kelkar
- C.Y. V. Reddy
- D.Rakesh Mohan
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The Fourteenth Finance Commission, set up in 2013 for the award period 2015-2020, was chaired by Y. V. Reddy, a former Governor of the Reserve Bank of India.
Read the full explanation →Why was constitutional amendment needed for introducing GST?
- A.States were not willing to agree with the Union for introduction of GST without amendment in the Constitution.
- B.GST was to be implemented on concurrent base and Article 246 was inadequate for such a case.
- C.The Empowered Committee of Finance Ministers had recommended for constitutional amendment.
- D.The GST Council had recommended for constitutional amendment so that its power enhances.
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GST is levied by the Union and the States together on the same supply, and Article 246, which splits taxing powers between them through separate lists, did not allow such a concurrent tax.
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