Center-State Financial Relations
Center State Financial Relations
Part 12 of the Constitution According to 268-281, a provision has been made about the financial relations between the Union and the States. The basic principles of the division of revenue between the Centre and the States are-
(1) Functionality
(2) Adequacy and
(3) Suitability
There are two characteristics of financial relations between the Union and the States in India.
(1) Division of powers of taxation between the Union and the States.
(2) Division of revenue between the Union and the States
(1) Division of Powers of Taxation
Which of the following are correct : (a) In Part 10 of the Indian Constitution financial relations between the Union and the States are mentioned. (b) The Central Government has the right to levy tax on the subjects mentioned in the Union List are also called Union taxes. (c) States have the right to levy taxes on the subjects mentioned in the Union List and are also called State Taxes | |||
| Right Option : B | |||
| View Explanation | |||
According to __________________________, a State may borrow money on the security of the State's Consolidated Fund within the limits fixed by the State Legislature, but a State cannot borrow from anyone outside India. | |||
| Right Option : A | |||
| View Explanation | |||
According to Article 268-281, a provision has been made about the _______________________ relations between the Union and the States. | |||
| Right Option : C | |||
| View Explanation | |||
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