Q: Which of the following are associated with ‘Planning’ in India?
a) The Finance Commission
b) The National Development Council
c) The Union Ministry of Rural Development
d) The Union Ministry of Urban Development
e) The Parliament
The correct answer is 2 and 5 only.
- The finance commission is involved in the distribution of taxes and grants. It is not involved in planning. Therefore, by just eliminating all options involving statement 1 we get Option 3 is correct.
- Finance Commission
- It is a constitutional body, that determines the method and formula for distributing the tax proceeds between the Centre and states, and among the states as per the constitutional arrangement and present requirements.
- It is constituted by the President under article 280 of the Constitution to give its recommendations on the distribution of tax revenues between the Union and the States.
- The 15th Finance Commission was constituted by the President of India in November 2017, under the chairmanship of NK Singh. Its recommendations will cover a period of five years from the year 2021-22 to 2025-26.
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