Q. When was the First Finance Commission was constituted vide Presidential Order dated
Solution:
- The First Finance Commission (IAST: Vitta Ayoga) was established by the President of India in 1951 under Article 280 of the Indian Constitution.
- The Finance Commissions are commissions periodically constituted by the President of India under Article 280 of the Indian Constitution.
- To define the financial relations between the central government of India and the individual state governments.
- Fifteen Finance Commissions have been constituted since the promulgation of Indian Constitution in 1950.
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