Sagar 31 Questions 177 Answers 34 Best Answers 572 Points View Profile Sagar Asked: January 30, 20212021-01-30T01:43:33+05:30 2021-01-30T01:43:33+05:30In: UPSC PRELIMS What is Finance Commissions? Tell us about Article 280(finance Commissions)? articlespolitiy Share Facebook 1 Answer Recent Sakshi 46 Questions 34 Answers 26 Best Answers 233 Points View Profile Best Answer Sakshi 2021-01-30T02:21:28+05:30Added an answer on January 30, 2021 at 2:21 am As a legislative and quasi-judicial body, Article 280 of the Constitution of India provides for a Finance Commission. It is founded every fifth year or earlier by the President of India, as he deems appropriate. More about Finance Commission: The Finance Commission shall consist of a Chairman and four additional members to be named by the President. For such a time as the President determines in his decree, they retain office. They are eligible for reappointment. The chairman should be a person with public affairs experience and the four other members should be chosen from the following: A high court judge or one who is eligible to be named as one. An individual who has professional knowledge of government finance and accounts. A person with extensive experience in financial matters and administration. A person with special knowledge of economics The Commission shall send its report to the President, who shall submit it to both the Houses of Parliament, along with an explanatory memorandum concerning the action taken on its recommendations. The recommendations made by the Finance Commission are advisory only and, thus, not binding on the government. 1 Reply Share Share Share on Facebook Share on Twitter Share on WhatsApp Cancel the best answer Leave an answerCancel replyYou must login or register to add a new answer. Related Questions What is Article 11 of the Indian Constitution? What is Article 10 of the Indian Constitution?