The 15th Finance Commission made recommendations to promote better fiscal discipline, education, and agriculture reforms, while adjusting tax devolution among states.

✅ Statement I: Correct 4,800 crores were recommended (2022–23 to 2025–26) to incentivize states for improving educational outcomes.

❌ Statement II: Incorrect The Commission recommended 41% of Union taxes to be shared with states, not 45%.

✅ Statement III: Correct It proposed a ₹45,000 crore performance-based incentive for states to implement agricultural reforms.

✅ Statement IV: Correct It reintroduced the 'tax effort' criterion, rewarding states that better mobilize revenue in relation to their GSDP.