With reference to the Union Finance Commission, which of the following statement(s) is/are correct?(1)Finance Commission has a Chairman and six members.(2)It submits its report to the NITI Aayog.Select the correct answer using the code given below.

1. A

   Only 1

   Option (a) claims that only statement 1 is correct. This is incorrect because the Finance Commission consists of a Chairman and only four other members, not six, making the first statement factually wrong.

2. B

   Only 2

   Option (b) claims that only statement 2 is correct. This is incorrect because the Finance Commission submits its report to the President of India, who then causes it to be laid before each House of Parliament, not to the NITI Aayog.

3. C

   Both 1 and 2

   Option (c) claims that both statements 1 and 2 are correct. This is incorrect since both individual statements contain factual errors regarding the composition and reporting authority of the Finance Commission.

4. D

   Neither 1 nor 2

   Option (d) claims that neither statement 1 nor statement 2 is correct, which is the right choice. Statement 1 is incorrect because the commission has a Chairman and four members, and statement 2 is incorrect because the report is submitted to the President.

Summary. Official key is (d) because neither of the given statements regarding the Union Finance Commission is accurate. The first statement incorrectly states the number of members as six instead of four. The second statement wrongly claims that the report is submitted to the NITI Aayog instead of the President. Aspirants frequently confuse administrative bodies and reporting channels in constitutional posts. Therefore, option (d) correctly identifies both statements as false.