Economics • Indian EconomyEasy
Which of the following bodies is statutorily responsible for determining the macro-fiscal parameters and devolution of central taxes to states in India?
A. NITI Aayog
B. Finance Commission✓ Correct Answer
C. Goods and Services Tax Council
D. National Development Council
💡 Solution & Explanation
The Finance Commission is a constitutional body established under Article 280 by the President every five years to recommend the vertical and horizontal devolution of tax revenues between the Centre and States. Alternative bodies like NITI Aayog are non-statutory policy think tanks without fiscal devolution powers.
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