Mentors Comments: 1. Introduce with Art 280 and briefly mention the functions of Finance Commissions. 2. Explain how it is constituted. 3. Discuss the ToR of 15th FC and its challenges. Answer: The Finance Commission is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on the distribution of … Continue reading  How is the Finance Commission of India constituted? What do you about the terms of reference of the recently constituted Finance Commission? Discuss. (15 Marks)