General Knowledge!FUNCTIONS OF FINANCE COMMISSION1. Distribution of net proceeds of taxes between the Centre and the States, to be divided as per their respective contributions to the taxes.2. Determine factors governing Grants-in-Aid to the statesand the magnitude of the same.3. To make recommendations to President as to the measures needed to augment the Consolidated Fund of a State to supplement the resources of the panchayatsand municipalities in the state on the basis of the recommendations made by the Finance Commission of the state. - Study24x7
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Priya Sharma
01 Jan 1970 05:30 AM study24x7 study24x7

General Knowledge!

FUNCTIONS OF FINANCE COMMISSION

1. Distribution of net proceeds of taxes between the Centre and the States, to be divided as per their respective contributions to the taxes.
2. Determine factors governing Grants-in-Aid to the states
and the ...

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