![]() Accordingly, the Parliament of India enacted the Finance Commission Act, 1951 and The Finance Commission (Salaries & Allowances) Rules, 1951 to specify the qualification of the chairman and members of the commission.The constitution authorises the parliament to determine the qualification of members of the commission and the manner in which they should be selected.They hold office for such period as specified by the president in his order.The Finance Commission consists of a chairman and four other members to be appointed by the president. ![]() ![]() It is normally constituted two years before the period.
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