Which of the following are the essential reirements for a person to be appointed as a member of Finance Commission? 1. A supreme Court judge or one alified to be appointed as such 2. A person having wide experience in financial matters and administration 3. A person having special knowledge of economics Select the correct answer using the code given below:

Under Article 280 of the Constitution, the Parliament is authorized to determine the qualifications for members of the Finance Commission [1]. According to the Finance Commission (Miscellaneous Provisions) Act, 1951, the Commission consists of a Chairman and four members [1]. The four members must be selected from individuals who are: (a) a judge of a High Court or qualified to be appointed as one; (b) have specialized knowledge of government finance and accounts; (c) have wide experience in financial matters and administration; or (d) have special knowledge of economics. Statement 1 is incorrect because the requirement is for a High Court judge, not a Supreme Court judge. Statements 2 and 3 are correct as they align with the statutory requirements for experience in financial administration and special knowledge of economics. Therefore, only statements 2 and 3 are essential requirements.

Sources

1. [1] Laxmikanth, M. Indian Polity. 7th ed., McGraw Hill. > Chapter 46: Finance Commission > COMPOSITION > p. 431