Correct option is C
The 14th Finance Commission of India was constituted in 2013 under the chairmanship of Dr. Y. V. Reddy, a former Governor of the Reserve Bank of India. The recommendations made by this commission were for the period from 2015 to 2020.
The Finance Commission is constituted every five years to recommend how revenues should be distributed between the Central Government and the State Governments. The 14th Finance Commission significantly increased the share of states in the divisible pool of taxes from 32% to 42%.
