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Finance commission :::: M LAXMIKANTH


Finance Commission =Ar 280

                    a balancing wheel of Fiscal Federalism.

Chapter 45
--Quasi judicial body= constituted by President every 5 Year(or earlier if he considers necessary).
Composition:
--Chairman + 4 members (unlike UPSC/SPSC =no. ofmembers not fixed).
--Tenure = till President wants (unlike UPSC/SPSC =6 year or 65/62 year age).
--Reappointment= Elligible (unlike UPSC/SPSC__clickhere). ………………………………………….
--Qualification= Decided by Parliament (unlike UPSC/SPSC =Discretion of President + 50% experienced).
--Manner of appointment= by Parliament (unlikeUPSC/SPSC = Dicretion of President).
--Qualification identified by Parliament:
   > Chairman = Experienced in Public affairs.
   > 4 Members:
      >> 1=Judge of High Court or Qualified for that post.
      >> 2=Specialized knowledge in the field of Finance and Accounts of Gov.
      >> 3=Wide experience in Financial matters and Public administration.
      >> 4= Special knowledge of Economics.

Functions:
  >Makes recommendation to the President of India:
    >>Horizontal distribution of Funds (between Centre and State).
    >>Vertical distribution of Funds (between diff States).
    >>Principles governing “Grants in Aid” from Centre to State (from Consolidated fund of India).
    >>If “State Finance Commission” seeks help è then “Finance Commission of India” advise measures to augment “consolidated fund of State” for supplementing resources to local administration.
    >>Any other matter(financial) referred to it by President.

--Commission submits report to the President
                           ↓
--President puts the report + Memorandum(explaining action taken on advice) = in Parliament
                          
Advisory role:
--Recommendation = Advisory(like UPSC/SPSC…..but in case UPSC’s advice not taken….must be agreed by appointment committee).
--Rajamannar = Chairman of 4th Finance Commission:
     “Since the Finance Commission is a constitutional body expected to be a quasi-judicial, its recommendation should not be turned by the Government of India unless there are very compelling reasons”



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