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Which one of the following statements with regard to Finance Commission in States is not correct?

A)  The 74th Amendment of the Constitution of India provides for the establishment of a Finance Commission by a State to review the financial position of the municipalities.

B)  The Chief Minister of the State decides the composition of the Finance Commission and nominates the Chairman.

C)  The Finance Commission is expected to recommend the division of resources between the State and the municipalities within the State.

D)  The Finance Commission is authorised to make recommendations with regard to grants-in- aid to the Panchayats from the Consolidated Fund of a State.