According to Article 243 I of the Constitution, the Governor of a state constitutes the Finance Commission for every ________.

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SSC JE Electrical 07 Jun 2024 Shift 3 Official Paper - 1

Answer 1

The correct answer is 5 years

Key Points

According to Article 243 I of the Constitution, the Governor of a state constitutes the Finance Commission for every 5 years.
The Finance Commission is tasked with reviewing the financial position of the Panchayats and Municipalities.
It makes recommendations on the principles governing the distribution of resources between the state and these local governments.
This periodic review ensures that the financial needs of local bodies are met effectively.

Additional Information

The Constitution of India was adopted by the Constituent Assembly on 26th November 1949 and came into effect on 26th January 1950.
It lays down the framework defining fundamental political principles, establishes the structure, procedures, powers, and duties of government institutions, and sets out fundamental rights, directive principles, and the duties of citizens.
The Constitution of India is the longest written constitution of any country in the world.
It declares India a sovereign, socialist, secular, and democratic republic, assuring its citizens justice, equality, and liberty, and endeavors to promote fraternity.
The Finance Commission plays a crucial role in maintaining fiscal federalism in India.
It ensures that the financial resources are adequately allocated to various levels of government to meet their expenditure needs.
The recommendations made by the Finance Commission are advisory in nature and are subject to acceptance by the government.