Finance Commission of India - Composition, Power, function

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Introduction:- This article related to the Finance Commission of India, their function, Composition, Power and other general informaion.


Finance Commission of India (FCI)


Finance Commission of India is a constitutional body. it was established by the President of India in 1951 under Artcle 280 of the constitution of India. The purpose of Finance Commission to define the financial relations between the Union and the State Goverments. The Finance Commission Act, 1951 additionally defines tge terms of qualification, appointment and power of the Finance Commission. The Commission is appointed every five years and consists of a chairman and  four other members. Mr NK Singh, IAS is the current Chairman of the Finance Commission of India.


Composition of Finance Commission of India


The Finance Commission of India has a Chairman along with four other members and a Secretary. The Chairman is the person who heads the Commission and provides over its activities. The Chairman is selected from among persons who have had experience of public affairs, and the four other members are selected from among persons who -

  • Are, or have been, or are qualified as to be appointed as judges of a High court
  • Have special konwledge of finances and accounts of Goverments
  • Have had wide experience in financial matters and are in administrations 
  • Have special knowledge of Economics
  • All appointment are made by the President of India
  • A member can be disqualifed. When he was found to be of unsound mind, is involved in a vile act or if his interests are likely to affect the functioning of the Commission.
The tenure of the office of the member of the Finance Commission is stated by the President of India and in some cases the members are reappointed. The members shall give part time or whole time service to the commission as scheduled by the President. The salary of the members of the Finance Commisssion is according to the provisions laid down by the Constitution of India.

Read also


https://kakauriya.blogspot.com/2020/03/union-public-service-commission-upsc.html?m=1

 https://kakauriya.blogspot.com/2020/03/national-development-council-ndc.html?m=1

 https://kakauriya.blogspot.com/2020/03/the-planning-commission-of-india.html?m=1

 https://kakauriya.blogspot.com/2019/12/election-commission-of-india-role.html?m=1


Power of Finance Commission of India

The Finance Commission of India has the following powers:-

  • The Commission shall have all the powers of the Civil Court as per the code of civil Procedure, 1908.
  • It can call any witness, or can ask for the production of any public record or docoument from any court or office.
  • It can ask any person to give information or docoument on matters as it may feel to be useful or relevent.
  • It can function as a civil court in discharging its duties.

Function of Finance Commission of India


The major function of Finance Commission of India are follows:-

  • The distribution of the proceeds of taxex between the Union and the States.
  • Determine factors governing Grants-in-Aid to the statezand the magnitude of the same.
  • Any other matter related to the Commission by the President in the interest of sound finance.
  • To evaluate the increse in the Consolidated Fund of a state to affix the resources of the Panchayat in the state and the Municipalities.
  • Finance Commission is an autonomus body, Which is governed by the Goverment of India.


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