Which of the following statements with regard to recommendations of the 15th Finance Commission of India Correct?

I. Tt has recommended grants of Rs. 4,800 Crores from the year 2022-23 to the year 2025-26 for incentivizing States to enhance educational outcomes. 

II. 45% of the net proceeds of Union taxes are to be shared with States. 

III. Rs. 45,000 crores are to be kept as performance-based incentive for all States for carrying out agricultural reforms.

IV. It reintroduced tax effort criteria to reward fiscal performance.  

Select the correct answer using the code given below.