Which of the following roles/functions/responsibilities are not und er the p urview of the Financial Commission? 1. Sharing of net proceeds of taxes between the Centre and the States2. Recommending principles for governing the grants-in-aid to the states by the centre.3. Recommendations on matters referred to it by the President for the interest of sound finance.4. Preparation and periodical revision of electoral rolls.

Political institutions are the organizations in a government that create, enforce, and apply laws. They often mediate conflict, make (governmental) policy on the economy and social systems, and otherwise provide representation for the population.