Can the President delay the formation of a Finance Commission beyond five years?
No, the President cannot delay the formation of a Finance Commission beyond five years. The context states that "The President shall, within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier time as the President considers necessary, by order constitute a Finance Commission." This indicates that the President must establish a Finance Commission within two years of the Constitution's commencement and again within five-year intervals afterward. The option to delay the formation is not mentioned.