Given below are two statements one is labeled as Assertion (A) and other as Reason (R): Assertion (A): The President of India determines the qualifications of the Chairman and Members of the Finance Commission. Reason (R): Chairman and Members are appointed by the President of India. Select the answer using the codes given below. Codes:

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Accepted Answer

(A) is false, but (R) is true. The qualifications of the Chairman and Members of the Finance Commission are determined by the Finance Commission (Miscellaneous Provisions) Act, 1951, made by the Parliament. Hence Assertion is not correct. Qualifications for appointment and the manner of selection of members of the commission have been laid down in Finance Commission (Miscellaneous Provisions) Act, 1951. The Chairman of the Finance Commission shall be selected from among persons, who have had experience in public affairs and the four other members shall be selected from among persons– (1) Who are or have been or are qualified to be appointed as Judges of a High Court (2) Who have special knowledge of the finances and accounts of Government (3) Who have had wide experience in financial matters and in administration (4) Who have special knowledge of economics Chairman and Members of Finance Commission of India are appointed by the President of India. Hence, Reason is correct.

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