Consider the following statements :
1. Functions of the Finance Commission can be explicitly stated as:
2. Distribution of net proceeds of taxes between Centre and the States, to be divided as per their respective contributions to the taxes.
3. Determine factors governing Grants-in Aid to the states and the magnitude of the same.
4. to make recommendations to president as to the measures needed to augment the Consolidated Fund of a State to supplement the resources of the panchayats and municipalities in the state on the basis of the recommendations made by the Finance Commission of the state.
Select the correct answer using the codes given below.
View solution
