Correct option is B
Dr. Y. V. Reddy, the former Governor of the Reserve Bank of India (RBI), was appointed as the Chairman of the Fourteenth Finance Commission. The Commission was constituted in 2013 and submitted its report in 2014. Its primary role was to make recommendations on the distribution of tax revenues between the central government and the states, grants-in-aid to the states, and measures to improve the financial stability of local governments. The 14th Finance Commission played a crucial role in enhancing fiscal federalism in India.
