name: Indian Finance Commission
The Finance Commission of India was established in 1951 by the President of India under Article 280 of the Indian Constitution and is headquartered in New Delhi. It was established to define the financial relationship between the center and the country.
In 1951, the Indian Finance Committee Act stipulated qualifications, appointments and disqualifications, deadlines, qualifications and powers of the Finance Committee. According to the Indian Constitution, the committee appoints a chairman and four other members every five years.
The functions of the Indian Finance Committee:
1. The distribution of net tax proceeds between the center and the country shall be divided according to their respective tax contributions.
2. Determine governance subsidies.
3. Make suggestions to the President of India to strengthen the national unified fund to supplement the resources of administrative regions and municipalities.
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