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Answer

Correct Option is 2 and 3

Finance Commission is a constitutional body for the purpose of allocation of certain revenue resources between the Union and the State Governments. It was established under Article 280 of the Indian Constitution by the Indian President. It was created to define the financial relations between the Centre and the states. It was formed in 1951. 1.1st Finance Commission (1952–1957)– K.C.Neogy 2.14th Finance Commission (2015–2020) – Y.V. Reddy 3.15th Finance Commission (2021-2026) – N.K.Singh Hence statement 1 is correctly matched and statements 2 and 3 are not correctly matched.

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