The Finance Commission is a constitutional body appointed by the President every five years. Its recommendations cover the sharing of Union taxes, grants-in-aid to states, and measures to augment the Consolidated Fund of a State to supplement the resources of Panchayats and Municipalities.
The percentage of distribution of revenue from taxes between the Centre and the States is recommended by the
Asked in APPSC Group II Prelims 2016 · Topic: The Finance Commission (Core functions: Vertical and horizontal devolution of taxes)
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