Finance Commissions of India

Scholarship Examination in India

List of Finance Commissions and their heads is an important static GK topic for MBA, Bank PO and other competitive exams. You can expect at least 1 to 2 questions from List of Finance Commission and their head in any competitive exams.

Important Facts regarding Finance Commissions

  1. Finance Commissions came into existence in 1951.
  2. It was established under Article 280 of the Indian Constitution by the President of India.
  3. It was formed to define the financial relations between the centre and the state.
  4. As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members.
  5. Till date, Fourteen Finance Commissions have submitted their reports.
  6. Finance Commission is autonomous the body which is governed by the government of India.

List of Finance Commissions of India:

Finance CommissionYear of EstablishmentChairmanOperational Duration
First1951K. C. Neogy1952–57
Second1956K. Santhanam1957–62
Third1960A. K. Chanda1962–66
Fourth1964P. V. Rajamannar1966–69
Fifth1968Mahaveer Tyagi1969–74
Sixth1972K. Brahmananda Reddy1974–79
Seventh1977J. M. Shelat1979–84
Eighth1983Y. B. Chavan1984–89
Ninth1987N. K. P. Salve1989–95
Tenth1992K. C. Pant1995–2000
Eleventh1998A. M. Khusro2000–2005
Twelfth2002C. Rangarajan2005–2010
Thirteenth2007Dr. Vijay L. Kelkar2010–2015
Fourteenth2013Dr. Y. V Reddy2015–2020


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