Consider the following statements with regard to the Plannin

Economics

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M: +2.00/-0.50

Consider the following statements with regard to the Planning Commission (PC) and Finance Commission (FC) and state which of these statements is not correct.

U.P.P.C.S. (Mains) 2009

[Fiscal Policy, Inflation Planning and Banking]

Both, the Planning Commission and the Finance Commission are institutions for the transfer of resources from Centre to the States

Recommendations given by both are binding on the Government

While PC is a permanent body FC is constituted every 5 years

FC awards non-plan resources while PC allocates plan resources

EXPLANATION

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