[138-A. (1) The Finance Commission shall review the financial position of the corporation and make recommendations to the Governor as to,--
(a) the principal which should govern--
(i) the distribution between the State and the [Corporation] of the new proceeds of the taxes, duties, tolls and fees leviable by the State which may be divided between them and allocation of share or such proceeds to the Corporations ;
(ii) the determination of the taxes, duties, tolls and fees which may be to assigned appropriated by the [Corporation] ;
(iii) the grants-in-aid to the [Corporation] from the Consolidated Fund of the State ;
(b) the measures needed to improve the financial position of the Corporation ;
(c) any other matter referred to the Finance Commission by the Governor in the interest of sound finance of the [Corporation].
(2) Every recommendation of the Finance Commission made under sub-section (1) shall together with an explanatory memorandum as to the action taken thereon, be laid before both the Houses of the State Legislature.