Discuss the composition of Finance Commission.

Composition of Finance Commission:

Finance Commission has a chairman and four other members who shall be appointed by the president of India. The first chairman of the Finance Commission was K.C Neogy.

The 15th Finance Commission is headed by former revenue secretary and former Rajya Sabha member, N.K Singh. 

Qualification of Members of Finance Commission:

The parliament has set the qualifications for the members to be appointed for Finance Commission

1. The chairman of the Finance Commission must be a person having experience in public affairs.
2. Four other members of the Finance Commission should be selected from the following

I. A person should be a judge of a high court or qualified to be appointed as one.

II. A person who possesses specialised knowledge of finance and accounts of the government. 

III. A person who has extensive experience in administration and financial matters.

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