Correct option is D
The 15th Finance Commission, chaired by N.K. Singh, was constituted to make recommendations on the distribution of tax revenue between the Union and States. It covers the period from 2021-22 to 2025-26.
Initially, the commission was set up to provide recommendations for a 5-year period from 2020-21 to 2024-25. However, due to the impact of the COVID-19 pandemic, it was requested to give interim recommendations for 2020-21, followed by its final report for the period 2021-22 to 2025-26.
The commission provides crucial insights into how fiscal resources should be distributed to balance the development needs of different states, and also suggests fiscal rules and grants-in-aid based on performance criteria.
