Practice Passage #27 for CLAT : 16th Finance Commission(Current Affairs)

16th finance commission clat current affairs

In a significant stride towards shaping the fiscal landscape of India, the Centre has officially announced the appointment of four distinguished individuals to the Sixteenth Finance Commission. Led by ……………………………. the commission is poised to play a pivotal role in recommending the tax-revenue sharing formula between the Centre and the States for the ………………….

Among the notable appointments is Ajay Narayan Jha, former Expenditure Secretary and a familiar face from the Fifteenth Finance Commission chaired by………………. His reappointment brings a wealth of experience and insight to the commission’s endeavors. Joining him are Annie George Mathew, former Special Secretary in the Expenditure Department of the Finance Ministry, and Niranjan Rajadhyaksha, a noted economist and Executive Director at policy think tank Artha Global. Soumya Kanti Ghosh, Group Chief Economic Adviser at State Bank of India, has also been included as a part-time member.

1. Who is the Chairman of 16th Finance commission?

A. Arvind Panagariya

B. N K Singh

C. Raghuram Rajan

D. Nirmala Seetharaman

2. What is the period for implementation of 16th Finance commission?

A. 2025-2030

B. 2024-2026

C. 2026-2031

D. To be decided later

3. Who was the chairman of First Finance Commission?

A. M C Setalvad

B. Lokenath Mishra

C. G V Mavlankar

D. K . C. Neogy

4. Who appoints the Finance Commission and under which article?

A. President under Art 275

B. President under Art 280

C. PM under Art 275

D. PM under Art 280

5. Which of the following is true?

A. States have a separate Finance commission under the constitution

B. Finance Commission decides the amount of money given to each state under MNREGA

C. Finance Commission is a statutory body

D. The chairman of Finance Commission can only be a retired IAS

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