Finance Commission of India

From Wikipedia, the free encyclopedia

This article or section needs to be wikified to meet Wikipedia's quality standards.
Please help improve this article with relevant internal links. (October 2007)

The Finance Commission is an impartial authority established under Article 280 of the Constitution of India by the President.

The qualifications, powers and procedures of the Commission itself are regulated by the Finance Commission (Miscellaneous Provisions) Act 1951. Such Commissions are deemed to be civil courts for the purposes of the Code of Criminal Procedure 1898.

The Finance Commission is constituted to define financial relations between the Center and the States. Under the provision of Article 280 of the constitution, the President appoints a Finance Commission for the specific purpose of devolution of non-plan revenue resources. The functions of the Commission are to make recommendation to President in respect of:

1. The distribution of net proceeds of taxes to be shared between the union and the states and the allocation of share of such proceeds among the states.

2. The principles which should govern the payment of grant-in-aid by the Center to States.

3. Any other matter concerning financial relations between the Center and the States.

In the above context so far 13 Finance Commissions have been appointed which are as follows:

Finance Commissions Appointed
Finance Commission	Year of Establishment	Chairman	Operational Duration
I	1951	K.C Niyogi	1952-57
II	1956	K.Santhanam	1957-62
III	1960	A.K. Chanda	1962-66
IV	1964	P.V. Rajamannar	1966-69
V	1968	Mahaveer Tyagi	1969-74
VI	1972	Brahmn Nand Reddy	1974-79
VII	1977	J.M. Shellet	1979-84
VIII	1983	Y.B. Chavan	1984-89
IX	1987	N.K.P.Salve	1989-95
X	1992	K.C Pant	1995-2000
XI	1998	A.M.Khusro	2000-2005
XII	2003	C.Rangarajan	2005-2010
XIII	2007	Vijay Kelkar	2010-2015