Match List-I with List-II and choose the correct answer using the code given below the lists.

Question

Match List-I with List-II and choose the correct answer using the code given below the lists.

List-I (Finance Commission)

A. Eleventh

B. Twelfth

C. Thirteenth

D. Fourteenth

List-II (Chairman)

1. Dr. C. Rangarajan

2. Dr. Y. V. Reddy

3. Prof. A. M. Khusro

4. Dr. Vijay L. Kelkar

1. A. A-3, B-1, C-4, D-2 (Correct answer)
2. B. A-2, B-3, C-4, D-1
3. C. A-3, B-2, C-1, D-4
4. D. A-1, B-3, C-2, D-4

Correct Answer

Option A — A-3, B-1, C-4, D-2

Detailed Solution & Explanation

The correct answer is A-3, B-1, C-4, D-2.

Key Points

• A. Eleventh Finance Commission — 3. Prof. A. M. Khusro (report for 2000-2005).
• B. Twelfth Finance Commission — 1. Dr. C. Rangarajan (2005-2010).
• C. Thirteenth Finance Commission — 4. Dr. Vijay L. Kelkar (2010-2015).
• D. Fourteenth Finance Commission — 2. Dr. Y. V. Reddy (2015-2020).
• Hence option (a).

Additional Information

• The Finance Commission is constituted by the President every five years under Article 280. It is a quasi-judicial body that recommends the distribution of tax proceeds between the Union and the states (vertical devolution) and among the states (horizontal devolution), and the principles governing grants-in-aid.
• The Fourteenth Finance Commission raised the states' share of the divisible pool sharply from 32% to 42%; the Fifteenth, chaired by N. K. Singh, set it at 41% after Jammu and Kashmir became a Union Territory.
• The First Finance Commission (1951) was chaired by K. C. Neogy.
• Its recommendations are advisory and not binding on the government.