Civil Services UPSC EPFO (EO/AO) Mock Test 2023 Current Affairs Business and Economy

Which of the following statement is incorrect regarding the Finance Commission(FC)?

1
Article 280 of Indian Constitution mentions about it
2
Earlier to the 15th FC, 9th Finance Commission was granted a six-year time frame.
3
15th Finance Commission’s recommended to maintain the States’ share in the divisible pool of taxes to 42%.
4
Finance Commission was constituted by the President of India 
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