In the questions given below, the sentence is divided into three I, II and III. For each part an alternate statement is also given. You have to determine if a part requires correction, and then mark that as your answer.

To its credit, by retaining the existing/ share of states in taxes, the fifteenth finance/ commission have been principled and pragmatic.

I: commission has been principled and pragmatic.
II: To its credit, by retaining a existing 
III: share of states in taxes, a fifteenth