Consider the following statements: The function (S) of the Finance Commission is/are to allow the withdrawal of money out of the Consolidated Fund of India. to allocate between the States the shares of proceeds of taxes. to consider applications for grants-in-aid from States. to supervise and report on whether the Union and State governments are levying taxes in accordance with the budgetary provisions. Which of these statements is/are correct?

- Statement 1 is incorrect. The Finance Commission does not have the function of allowing withdrawal of money out of the Consolidated Fund of India; this power rests with the Parliament through the appropriation process. - Statement 2 is correct. A primary function of the Finance Commission is to make recommendations on the distribution of the net proceeds of taxes between the Union and the States, and the allocation between the States of the respective shares of such proceeds (Article 280(3) (a)). - Statement 3 is correct. The Finance Commission considers applications for grants-in-aid from the States from the Consolidated Fund of India and makes recommendations on the principles governing such grants (Article 280(3)(b)). - Statement 4 is incorrect. The function of supervising and reporting on whether governments are levying taxes in accordance with budgetary provisions falls under the purview of auditing authorities like the Comptroller and Auditor General (CAG), not the Finance Commission.