Financial Relations — Prelims Questions

Consider the following statements about the 15th Finance Commission: 1. It recommended 41% share for States in the divisible pool of Central taxes 2. It introduced performance-based incentives worth ₹1.75 lakh crore 3. It used only 2011 census data for population criteria 4. It recommended grants for local bodies worth ₹4.36 lakh crore Which of the statements given above are correct?

Which of the following taxes are NOT shared with States under the current constitutional framework? 1. Income Tax 2. Education Cess 3. Corporation Tax 4. Customs Duties 5. Health and Education Cess Select the correct answer:

The GST Council operates on which of the following voting mechanisms?

Consider the following about centrally sponsored schemes funding pattern: 1. General category States contribute 40% of the scheme cost 2. Special category States contribute 10% of the scheme cost 3. Union Territories receive 100% Central funding 4. Northeastern States are treated as special category Which statements are correct?

Which of the following is NOT a criterion used by the 15th Finance Commission for tax devolution?