Q1. With reference to the devolution formula recommended by the 16th Finance Commission (2026-31) as compared with that of the 15th Finance Commission, consider the following statements. Which of the statements given above is/are correct?
- The income distance criterion has been assigned a lower weight under the 16th Finance Commission than under the 15th Finance Commission.
- The 16th Finance Commission introduced 'Contribution to GDP' as a new criterion, replacing the 'Tax and Fiscal Efforts' criterion of the 15th Finance Commission.
- The 16th Finance Commission raised the weight assigned to Area while reducing the weight assigned to Population, relative to the 15th Finance Commission.
- A. 1 only
- B. 1 and 2 only
- C. 2 and 3 only
- D. 1, 2 and 3