Which of the following is constituted under Article 280 of the Constitution of India?

The correct answer is Finance Commission.

Key Points

• The Finance Commission in India is constituted by the President under article 280 of the Constitution.
• The first finance commission was constituted in 1951.
• Finance Commission is a constitutional body for the purpose of allocation of certain revenue resources between the Union and the State Governments.
• The finance commission is appointed every five years.
• The President lays the reports of the Finance commission before both the Houses of the Parliament.
• The finance commission recommends to the President relating to the distribution of the net taxes to be shared between the centre and the states.
• The finance commission consists of a Chairman and four members.​

Additional Information

• The 14th Finance Commission was headed by YV Reddy.
• The 15th Finance Commission is headed by Nand Kishore Singh.
• The Finance Commission of India was established in 1951.
• The first chairman of the Finance Commission was KC Neogy.