Q: What is the constitutional body appointed by the President every five years to review centre state financial relationships?  

Answer: A

The Finance Commission of India is established by the President of India as per Article 280 of the Constitution. It is a constitutional body appointed by the President every five years to review the centre-state financial relationships and recommend the sharing of taxes between the Union and the States. The Commission also makes recommendations on the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the State Finance Commissions.

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