Finance Commission and its Chairman- TNPSC

Match the following

Commission	Chairman
a)      14th Finance Commission	1        Sri K.C. Pant
b)      13th Finance Commission	2        Dr. Vijay Kelkar
c)      12th Finance Commission	3        Dr. C. Rangarajan
d)      10th Finance Commission	4        Dr. Y.V. Reddy

(a)        (b)        (c)        (d)

4          2         3         1

1            2          3          4

4           3          2          1

3           4          2          1

EXPLANATION

Background: What is a Finance Commission?

The Finance Commission of India is a constitutional body set up every five years under Article 280 of the Indian Constitution.
It recommends how revenue (mainly taxes) collected by the central government should be shared between the Centre and the States and among the States themselves.

Each Finance Commission has a Chairman, usually a noted economist or public administrator, and four other members.

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🔸 (a) 14th Finance Commission → Dr. Y. V. Reddy (4)

• Constituted: 2013

• Operational period: Recommendations applied for 2015–2020

• Chairman: Dr. Yaga Venugopal Reddy, former Governor of the Reserve Bank of India (RBI).

• Key Recommendation:

  • Increased the share of states in the divisible pool of taxes from 32% to 42%, a major jump giving more fiscal autonomy to states.

• Hence,
  14th Finance Commission → Dr. Y.V. Reddy

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🔸 (b) 13th Finance Commission → Dr. Vijay Kelkar (2)

• Constituted: 2007

• Operational period: 2010–2015

• Chairman: Dr. Vijay L. Kelkar, a noted economist and former Finance Secretary.

• Key Recommendation:

  • Suggested path for fiscal consolidation (reducing fiscal deficit).

  • Emphasized reforms in public expenditure and introduction of GST (Goods and Services Tax).

• Hence,
  13th Finance Commission → Dr. Vijay Kelkar

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🔸 (c) 12th Finance Commission → Dr. C. Rangarajan (3)

• Constituted: 2002

• Operational period: 2005–2010

• Chairman: Dr. C. Rangarajan, former Governor of the RBI and Chairman of the Prime Minister’s Economic Advisory Council.

• Key Recommendation:

  • Suggested measures for debt relief to states.

  • Recommended a greater focus on fiscal discipline.

• Hence,
  12th Finance Commission → Dr. C. Rangarajan

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🔸 (d) 10th Finance Commission → Sri K.C. Pant (1)

• Constituted: 1992

• Operational period: 1995–2000

• Chairman: Shri K.C. Pant, a senior politician and former Defence Minister.

• Key Recommendation:

  • Suggested alternative scheme for devolution of resources.

  • Focused on balancing fiscal needs and development requirements of states.

• Hence,
  10th Finance Commission → Sri K.C. Pant

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✅ Final Matching Table

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✅ Final Answer:

(a) 4 (b) 2 (c) 3 (d) 1