Which one of the following is the function of the Finance Commission of India?
(i) Allocation of the shares of net proceeds of taxes
(ii) Laying down principles governing grants-in-aid
(iii) Looking into the financial relation between the centre and the state
(i) and (ii)
(i), (ii) and (iii)
(i) and (iii)
(ii) and (iii)
Answer not known
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