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  1. The Finance Commission is
    1. a permanent body
    2. an annual body
    3. a triennial body
    4. a quinquennial body
Correct Option: D

The Finance Commission Act of 1951 states the terms of qualification, appointment and disqualification, the term, eligibility and powers of the Finance Commission. As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members.



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