What is the main function of the finance commission? (Answer in one sentence.)
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The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves
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Dr. B.R Ambedkar in the year 1951 established Finance commission.
This was created under the Article 280, to improvise the transactions between union and states and reduce imbalances that are fiscal.
The relation that involves financially, between India's state government and central government is being aided by finance commission.
In this commission a chairman is being appointed along with four other members.
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