How Many Members in Finance Commission

Introduction

According to the constitution, the commission, which has a chairman and four other members, is chosen every five years. The Finance Commission (Miscellaneous Provisions) Act, of 1951 was passed to give the finance commission a structured format and raise it to international standards by establishing guidelines for the qualification and disqualification of commission members as well as for their appointment, term, eligibility, and powers.

Qualifications of the members

The qualifications of the members of a finance commission vary depending on the country and the commission in question. In general, finance commission members are typically individuals with experience and expertise in areas such as public finance, economics, law, and public administration. Some specific qualifications that may be required for finance commission members include:

Academic Qualifications:

Members of a finance commission typically have advanced degrees in fields such as economics, public finance, law, or public administration.

Professional Experience:

Many finance commission members have professional experience working in government, public finance, or other related fields. They may have experience working as economists, public finance experts, or government officials.

Knowledge of Public Finance:

Finance commission members should have a deep understanding of public finance and the financial needs of the government. They should be familiar with budgeting, revenue collection, and expenditure management.

Experience in Intergovernmental Relations:

Finance commission members should have experience working with different levels of government and understand the complex interactions between federal, state, and local governments.

Analytical Skills:

Finance commission members should be able to analyze and interpret financial data, and be able to make recommendations based on that data.

Independence and Integrity:

Finance commission members are expected to be independent and impartial in their work and should not have any conflicts of interest.

Disqualification from being a member of the commission is as follows

The disqualifications for being a member of a finance commission may vary depending on the country and the commission in question. However, some general disqualifications that may apply to finance commission members include:

Holding public office:

Members of a finance commission may be disqualified from holding any other public office, either at the central or state level.

Conflict of Interest:

Members may be disqualified if they have any financial or other interests that could potentially conflict with their duties as a commission member.

Criminal Conviction:

Members may be disqualified if they have been convicted of a criminal offense.

Insolvency:

Members may be disqualified if they are bankrupt or insolvent.

Non-Resident:

Members may be disqualified if they are not a resident of the country or the state where the commission is located.

Age limit:

Members may be disqualified if they are beyond a certain age limit prescribed.

Political Affiliation:

Members may be disqualified if they are members of any political party or have any political affiliations.

Additional information

• In 1951, KC Neggy was the chairman of the first finance commission of India.

• In the latest financial commission of India, the chairman was NK Singh.

• Other members of 15th FC are:

Ajay Narayan Jha, Ashok Lahari, and Anoop Singh as full-time members. Ramesh

Chand is a part-time member.