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The Finance Commission of India is a constitutional body established under Article 280 of the Indian Constitution. It plays a pivotal role in ensuring a fair distribution of financial resources between the Union and the States, thereby maintaining the federal balance in fiscal matters. The President of India constitutes the Finance Commission every five years, or earlier if deemed necessary, to review and recommend the principles of revenue distribution. It serves as an advisory body to the Union and the States, enabling cooperative federalism through fiscal adjustments. The Finance Commission is composed of a Chairman and four other members appointed by the President. The qualifications of members are prescribed by the Parliament. The Chairman is usually a person with experience in public affairs, while the other members are drawn from fields such as finance, economics, _____ ______ __________ ____ _________ _________ ____ _____ __________.
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