The Finance Commission consists of a Chairman and ______ other members, appointed by the President.

Article 280(1): Finance Commission comprises Chairman + 4 members appointed by President. Qualifications: expertise in public affairs, finance, economics, administration, law. Constituted every 5 years (or earlier) to recommend: (a) tax devolution between Centre-States, (b) grants-in-aid, (c) Panchayat/Municipality fund augmentation. Key institution for fiscal federalism.