The Finance Commission of India is a constitutional body under Article 280. It is constituted by the President every five years. The Commission recommends how financial resources are shared between the Union and the States. Its role ensures balance, equity, and cooperative federalism.

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• Constitutional body under Article 280

• Formed by President every five years

• Advises on Centre–State tax distribution

• Recommendations advisory, not binding

• Five-member body with expert composition

• Focus on fiscal balance and equity

• Suggests grants-in-aid to States

• Supports Panchayat and Municipal finances

• Key role in cooperative federalism