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Question : 90 of 150
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Solution:
The Finance Commission tenure 5 years.
- The finance commission defines financial relations between the center and states.
- It is established by the president of India under Article 280 of the Indian constitution for five years.
- The 14th and 15th Finance Commission chairman was Y. V. Reddy and N. K. Singh respectively.
- State Finance Commission is a constitutional body under Article 243-I.
- The governor of a state constitutes a Finance Commission every five years.
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