When was the State Finance Commission of M. P. constituted?
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M.P. is the first state to constitute
State Finance Commission (14th June, 1994) after
73rd and 74th Amendment. The main function of
the commission is to determine the principles of
dividing state economic resource in between state
and local bodies, in such a way that the local bodies
can function effectively without economic hurdles.
It also allocates the taxes to be handed over to these
bodies.