Correct Answer – Option 2 : Article 280

The correct answer is Article 280.

• The finance commission was formed on 22nd November 1951.
• The objective of the finance commission is to maintain financial relations between the center and the states.
• It’s headquartered is in Delhi.
• The first executive of the finance commission was Kshitish Chandra Neogy.
• Till now, 15 finance commissions have been constituted.

• The present finance commissioner of India is Nand Kishore Singh.
• The commission consists of the chairman and four other members.
• The qualification of the members include –

1. He should be mentally sound.
2. He should not hold any office of profit.