65.We recommend for this purpose, among others, the appointment of a high level tribunal of five members including a Chairman who has been, or is, holding high judicial office, not lower than that of a judge of a High Court. This tribunal may be called the ‘Finance Commission’. There may not ordinarily be enough work for the Commission to keep it busy continuously, and the members need not, therefore, devote their whole time to the work. The members should be appointed by the President in his discretion if only because a Commission of this kind would have frequently occasion to deal with points of conflict between the Centre and the units. While we would not lay down any conditions in the statute as to how these members should be selected, we recommend that two should be selected from a panel of nominees of unit Governments and two others from a panel of nominees of the Central Government, the Chairman being selected by the President. One at least of the five should possess close knowledge of the finances and accounts of governments, while another at least should have a wide and authoritative knowledge of economics. It would be an advantage if one or more were public men with wide experience. It would be a further advantage if a member possessed more than one qualification, and steps should be taken to secure the services of such individuals. The appointments might be made for five years and be renewable for another five years.