| Select the correct statement about 14th Finance Commission which submitted its report to president |
| 1. It covers the period between 1 April 2015 and 31 March 2020. |
| 2. The Commission headed by former RBI Governor Y V Reddy. |
| 3. Provides for devolution of tax receipts from the Centre to the States. |
| 4. Article 280 of Constitution provides for appointment of Finance Commission. |
| 5. 1st and 13th Finance Commission was headed by K C Neogy & Dr. Vijay Kelkar respectively. |
A) 1, 3 & 5 are correct
B) 1, 2 & 3 are correct
C) 1, 3 & 4 are correct
D) All are correct
Correct Answer: D
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