Consider the following statements : 1. The Prime Minister of India is the ex-officio Chairman of the Planning Commission. 2. The Union Finance Minister is the ex-officio Chairman of the Finance Commission. Which of the statements given above is/are correct ?

Statement 1 is correct as the Prime Minister of India served as the ex-officio Chairman of the Planning Commission from its inception in 1950 until its replacement by NITI Aayog in 2015 [3]. This role ensured coordination between the commission and the central government. Statement 2 is incorrect because the Finance Commission is a constitutional body established under Article 280, and its Chairman is appointed by the President of India [1]. The Chairman is typically an individual with experience in public affairs rather than the Union Finance Minister serving ex-officio. While the Finance Minister may be an ex-officio member of NITI Aayog, they do not head the Finance Commission [3]. Historical chairmen of the Finance Commission include experts like Vijay Kelkar and N.K. Singh, confirming that the post is not held by the sitting Finance Minister [2].

Sources

1. [3] Laxmikanth, M. Indian Polity. 7th ed., McGraw Hill. > Chapter 46: Finance Commission > Table 46.1 Finance Commissions Appointed so far > p. 433
2. [1] Indian Polity, M. Laxmikanth(7th ed.) > Chapter 56: NITI Aayog > ERSTWHILE PLANNING COMMISSION > p. 471
3. [2] https://fincomindia.nic.in/about-us