Which one of the following statements with regard to Finance Commission in States is not correct?

• A.  The 74th Amendment of the Constitution of India provides for the establishment of a Finance Commission by a State to review the financial position of the municipalities.
• B.  The Chief Minister of the State decides the composition of the Finance Commission and nominates the Chairman.
• C.  The Finance Commission is expected to recommend the division of resources between the State and the municipalities within the State.
• D.  The Finance Commission is authorised to make recommendations with regard to grants-in- aid to the Panchayats from the Consolidated Fund of a State.