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Multiple Choice Questions

1. Which Article in the Indian Constitution provides for the Finance Commission?

Article 323
Article 280
Article 256
Article 256

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2. What is the constitution of the Finance Commission?

Chairman and nine elected (by Lok Sabha) members
Chairman, Vice-chairman and eight nominated members
Chairman, and four other members appointed by the President
Chairman, and four other members appointed by the President

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3. Which of the following roles/functions/responsibilities are NOT under the purview of the Financial commission?

1. Sharing of net proceeds of taxes between the Center and States
2. Recommending principles for governing the grants-in-aid to the states by the Center
3. Recommendations on matters referred to it by the President for the interest of sound finance
4. Preparation and periodical revision of electoral rolls