Question

Who was the head of the 10th finance commission?
A.Manmohan Singh
B.Vasant Sathe
C.Shiv-Shankar
D.K.C Pant

Answer 1

Hint:Finance commission is aimed at providing directions and advice on tax revenue distributions and is selected by the President based on certain rules and regulations. Fifteen finance commissions have been appointed so far since its very beginning in the year 1952 under the chairmanship of K.C. Neogy.

Complete answer:
The 10th finance commission was established in the year 1992 under the chairmanship of K.C. Pant.The finance commission was established in the year 1951 by Dr. B.R. Ambedkar under the article 280 of the constitution of India. The Finance Commission is a governing body which delivers advice between centre and states and within states on the distribution of tax revenues. The work of the Finance Commission has two characteristic features which include rectifying the imbalances between the expenditure responsibilities and taxation powers of the state and centre respectively and secondly, leveling of all services of public across all the states.

The main functions of the finance Commission include providing advice to the President on the issuance of tax net proceeds among Centre and the states, which are to be distributed among centre and states on the basis of their respective shares of taxes. Secondly, the Finance Commission also provides advice to the President on the measures which are required to increase the state fund. Furthermore, the Finance Commission also provides recommendations to the President on any other related matter in order to maintain reasonable and accepted finance. Since the very beginning of the Finance Commission, fifteen Finance Commissions have been appointed till date, under the chairmanship of fifteen different Ministers. The 10th finance Commission, established in the year 1992 was headed by Krishna Chandra Pant and his operational duration remained for five years from 1995 to 2000.

Hence, the correct answer is option (D).

Note: A total number of fifteen established Finance Commissions were headed by different governing bodies under the chairmanship of different Ministers. Among them the chairman of the 10th Finance Commission was K.C. Pant.