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Consider the following statements regarding the 16th Finance Commission's (FC 16) recommendations for the period 2026-31: 1. FC 16 retained the vertical share of states in the divisible pool of central taxes at 41%, the same as recommended by the 15th Finance Commission. 2. The Commission introduced a new "Contribution to GDP" criterion with a weight of 10%, replacing the "tax and fiscal efforts" criterion used by the 15th Finance Commission. 3. FC 16 discontinued revenue deficit grants (also known as revenue need grants) under Article 275, which were recommended by previous Finance Commissions. 4. The Commission recommended that states should reduce the fiscal deficit to 2.5% of GSDP by 2030-31, while the Centre should target 3.5% of GDP. Which of the above statements are correct?
This question appeared in the OPSC Prelims 2025 examination (GS). It is Question 90 out of 178 questions in this paper.
This question was part of the OPSC Prelims 2025 (GS). The OPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all OPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.