भारतीय संविधानातील कोणते कलम वित्त आयोग स्थापन करण्याचे बंधनकारक करते?

The correct answer is Option A (Article 280).

Key Points:
• Article 280 of the Constitution (Finance Commission): Article 280 under Part XII of the Constitution of India mandates the President of India to constitute a Finance Commission at the expiration of every fifth year or at such earlier time as the President considers necessary.
• Composition & Quasi-Judicial Nature: Functioning as a constitutional, quasi-judicial body, the Finance Commission consists of a Chairman and four other members appointed by the President; Parliament has prescribed their qualifications and selection manner under the Finance Commission (Miscellaneous Provisions) Act, 1951.
• Core Constitutional Functions: The Commission makes recommendations to the President regarding: (i) the distribution of net proceeds of taxes between the Union and the States (vertical devolution) and allocation among the States (horizontal devolution); (ii) principles governing Grants-in-aid to States out of the Consolidated Fund of India (Article 275); and (iii) measures needed to augment the Consolidated Fund of a State to supplement the resources of Panchayats and Municipalities.
• Distractor Analysis: Article 315 establishes UPSC and State PSCs, Article 324 vests electoral superintendence in the Election Commission, and Article 148 provides for the Comptroller and Auditor General (CAG).
• Key Takeaway: Article 280 of the Indian Constitution mandates the periodic establishment of the Finance Commission by the President.