What is the National Finance Commission?

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The state and Union governments have revenue resources divided between them, this division is done by the National Finance Commission. Article 280 of the Hon’ble Constitution of India established it with the President of India. It was created to clearly define the relationship between the state and the state in terms of finances. President constitutes the National Finance Commission after 5 years or when it is considered necessary to be created. 

National Commission and its Chairman

CommissionYear EstablishedChairman
1st Finance Commission1951K.C. Neogy
2nd Finance Commission1956K. Santhanam
3rd Finance Commission1960A.K. Chanda
4th Finance Commission1964P.V. Rajamannar
5th Finance Commission1968Mahavir Tyagi
6th Finance Commission1972B.N. Banerjee
7th Finance Commission1977J.M. Shelat
8th Finance Commission1983Y.B. Chavan
9th Finance Commission1987N.K.P. Salve
10th Finance Commission1992K.C. Pant
11th Finance Commission1998A.M. Khusro
12th Finance Commission2002C. Rangarajan
13th Finance Commission2007Vijay Kelkar
14th Finance Commission2013Y.V. Reddy
15th Finance Commission2017N. K. Singh (Current)

Qualification of Finance Commission Members and Chairman

The candidate with relevant experience in public affairs is chosen for the position of chairman of the finance commission.

The rest four members must have the following qualifications

  • Are or qualified as a Supreme Court judge
  • Carry government finances knowledge
  • Hold expertise in finances and administration
  • Good Economics knowledge
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This is all about the National Finance Commission. For more content related to the different states of India, visit our Civics and Polity archives. 

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