MCQ
upsc-p1-economy-public-finance-fc MCQ - Practice Questions with Answers
Solve 1 upsc-p1-economy-public-finance-fc questions for RAS/RPSC preparation.
Practice questions
Q1With reference to the Fifteenth Finance Commission's recommendation for 2021-26, consider the following statements: 1. The recommended vertical devolution was 41% of the divisible pool. 2. Collection costs, cesses and surcharges remain outside the base used for this devolution. 3. The 41% share includes Finance Commission grants as part of the same percentage. Which of the statements given above are correct? Select the correct answer using the code given below.
Explanation
Statements 1 and 2 are correct. The 41% recommendation applies to the divisible pool, whose base excludes collection costs, cesses and surcharges. Statement 3 is incorrect because grants are a separate component; they are not folded into the 41% tax-devolution share.
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