Question : The Finance Commission in India is appointed by
Option 1: Prime Minister of India
Option 2: President of India
Option 3: Chairman of Rajya Sabha
Option 4: Speaker of Lok Sabha
Correct Answer: President of India
Solution : The Correct Answer is- President of India
According to Article 280, the Finance Commission is a constitutional entity. A Finance Commission must be appointed by the Indian President every five years or sooner. It serves as a constitutional body that distributes certain revenue resources between the Union Government and the State Governments. Establishing a sound financial and beneficial relationship between the federal government and the state governments was the main motivation behind the establishment of the Finance Commission of India.
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Question : The Comptroller and Auditor General of India is appointed by the
Option 1: Prime Minister
Option 2: President
Option 3: Finance Minister
Option 4: Lok Sabha
Question : Finance Commission is appointed by the President of India after every
Option 1: 5 years
Option 2: 6 years
Option 3: 4 years
Option 4: None of these
Question : The era of five-year plans began in India with the establishment of______.
Option 1: The NITI Aayog
Option 2: The Parliament
Option 3: The Finance Commission
Option 4: The Planning Commission
Question : Monetray policy in India is formulated by:
Option 1: Finance Ministry
Option 2: RBI
Option 3: SEBI
Option 4: CLB
Question : Which of these Micro Finance Institutions (MFIs) are not regulated by the Reserve Bank of India (RBI)?
Option 1: Small finance bank-led MFIs
Option 2: Bank-led MFIs
Option 3: NBFC MFIs
Option 4: Non-profit MFIs
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