Q. With reference to the Finance Commission, consider the following statements:
1.It is a statutory body.
2.It is a quasi-judicial body.
3.It is constituted every ten years by the President.
Which of the statements given above is/are correct?

[A] 1 and 2 only

[B] 2 only

[C] 2 and 3 only

[D] 1, 2 and 3

Answer: B
Notes:

 Explanation:

  • The Finance Commission is a constitutional body, not a statutory body.
  • The Finance Commission is a quasi-judicial body as per Article 280.
  • It is constituted every five years or earlier, not ten years.
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