Chairman of First Finance Commission was ______.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → K.C. Neogi
The First Finance Commission was set up in 1951 under Article 280 of the Constitution, with K.C. Neogy as its chairman. A Finance Commission is appointed by the President every five years to recommend how the taxes collected by the Union are to be shared with the states.