The First Finance Commission was constituted vide Presidential Order dated 22.11.1951 under the chairmanship of ________

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The First Finance Commission was constituted vide Presidential Order dated 22.11.1951 under the chairmanship of _________?

AYV Reddy

BC Rangarajan

CVijay Kelkar

DKC Neogy

Answer:

The First Finance Commission, constituted via a Presidential Order dated November 22, 1951, was chaired by Shri K.C. Neogy.
The Finance Commission is a constitutional body in India, established under Article 280 of the Constitution.
Its primary function is to recommend the distribution of financial resources between the Union Government and the State Governments.
The First Finance Commission laid the groundwork for this crucial aspect of fiscal federalism in India.
NOTE:Sixteenth Finance Commission: Chairman: Dr. Arvind Panagariya (former Vice-Chairman of NITI Aayog and Professor at Columbia University)

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