Consider the following statements about Finance Commission:

  1. Its Chairman and members are appointed by the Prime Minister
  2. The Constitution empowers the Parliament to determine the qualifications of members of the Commission

     Which of the above statements is/are correct?

Answer: [B] 2 Only

First statement is incorrect because Chairman and members of Finance Commission are appointed by the President. Second statement is correct.

This question is a part of GKToday's Integrated IAS General Studies Module