Correct Option: A

The Eleventh Finance Commission of India was appointed by the President on July 3, 1998 for the period 2000-05. It was chaired by Prof. A.M. Khusro and its members were Shri N.C Jain, Shri J.C Jetly, Dr. Amaresh Bagchi, and T.N. Srivastava. Note : The Finance Commission came into existence in 1951. It was established under Article 280 of the Indian Constitution by the President of India. The chairman of 14th and current finance commission is former RBI governor Y.V.Reddy.