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Centre appoints former NITI Aayog Vice Chairman Arvind Panagariya as Chairman of 16th Finance Commission recently. The Finance Commission of India is a constitutional body that allocates revenues between the central and state governments. It was established in 1951 by the President of India under Article 280 of the Indian Constitution.
A leap year has 366 days in a year as opposed to the regular 365 days. The extra day is added to February, the shortest month of the year, as February 29.
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