Which of the following statements are correct regarding Finance Commission in India ?

1. Finance commission is constituted under Article 275 of the Constitution.

2. The provision for Grants-in-aids to the states are provided for under Article 280.

3. It was created to define the financial relations between the Centre and the states.

Select the correct answer using the code given below:

1
2 Only
2
3 Only
3
1 and 2 Only
4
2 and 3 Only

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