Question

Arrange the following in chronological oldest to latest order: A. Introduction of Income tax in India, B. Constitutional Amendment to establish finance commission, C. GST in India, D. FRBM Act, E. 16th Finance Commission.

• A. A, B, D, C, E
• B. A, C, D, B, E
• C. B, A, D, C, E
• D. B, A, E, C, D

Hint:

For fiscal chronology, remember: Income tax came first, then Finance Commission, then FRBM, then GST, and finally the 16th Finance Commission.

Answer 1

The Correct Option is A

Concept: Chronological order means arranging fiscal events from earliest to latest.

Step 1: Income tax in India.
Income tax was introduced in India during the colonial period. \[ A = \text{Introduction of Income tax} \]

Step 2: Finance Commission provision.
Finance Commission is a constitutional body established under the constitutional framework. \[ B = \text{Finance Commission provision} \]

Step 3: FRBM Act.
The FRBM Act came later to promote fiscal discipline. \[ D = \text{FRBM Act} \]

Step 4: GST in India.
GST was introduced after the FRBM Act. \[ C = \text{GST in India} \]

Step 5: 16th Finance Commission.
The 16th Finance Commission is the latest among the given events. \[ E = \text{16th Finance Commission} \] Thus, the correct sequence is: \[ A, B, D, C, E \]