Question
When will the Finance Commission be constituted as per the 73rd constitutional amendment?

Answer

  • The 75th Amendment came into force on April 24, 1993.
  • A Finance Commission will be constituted in all the states within one year from that date and after the expiration of five years thereafter.
  • Which will consider the distribution of financial resources between the states and panchayats at all levels, the controlled principles of acquisition and measures to improve the financial position of panchayats.

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