Answer: Option D
Answer: (d)
Agricultural income tax to states in India is assigned by the Constitution of India.
The agency responsible for it is the Finance Commission whose function is the distribution of net proceeds of taxes between the Centre and the States, to be divided as per their respective contributions to the taxes.
Finance commission: It is mainly to give its recommendation on the distribution of tax revenues between the union & the states and amongst the states themselves.
Interstate council: It is established to facilitate coordination of policies and their implementation between the Union & the state govt.
IFC: Its main objective is to foster a measurable increase in the availability of agriculture finance in IFC’s client portfolio globally.