Sixteenth Finance Commission is the

Finance Commission The Finance Commissions (IAST: ''Vitta Jayga'') are commissions periodically constituted by the President of India under ''Article 280'' of the Indian Constitution to define the financial relations between the central government of India and ...

constituted by the

Government of India The Government of India (ISO 15919, ISO: Bhārata Sarakāra, legally the Union Government or Union of India or the Central Government) is the national authority of the Republic of India, located in South Asia, consisting of States and union t ...

under Article 280 of

Constitution A constitution is the aggregate of fundamental principles or established precedents that constitute the legal basis of a polity, organization or other type of entity, and commonly determines how that entity is to be governed. When these pri ...

Arvind Panagariya Arvind Panagariya (born 30 September 1952) is an Indian economist who is holding the position of Jagdish Bhagwati Professor of Indian Political Economy at Columbia University and the Director of Deepak and Neera Raj Center on Indian Econo ...

has been appointed as the Chief of the Commission with the main task of determining revenue sharing between Central Government and State Government for a period of five years from April 1, 2026.

History and objective

Sixteenth Finance Commission was formed under Article 280 of the constitution for determining the sharing of tax revenues between

Union Government of India The Government of India (ISO: Bhārata Sarakāra, legally the Union Government or Union of India or the Central Government) is the national authority of the Republic of India, located in South Asia, consisting of 36 states and union territo ...

and States for five year period starting from 1 April 2026, determining the principles for granting of the aid from the Consolidated Fund of India to states and implementation of various measures for augmenting the resources of Consolidated Fund to meet the requirements of Panchayats and

Municipalities A municipality is usually a single administrative division having municipal corporation, corporate status and powers of self-government or jurisdiction as granted by national and regional laws to which it is subordinate. The term ''municipality' ...

of states.

Members

The Sixteenth Finance Commission comprises a chairman and various members that are appointed by the

president of India The president of India (ISO 15919, ISO: ) is the head of state of the Republic of India. The president is the nominal head of the executive, the first citizen of the country, and the commander-in-chief, supreme commander of the Indian Armed ...

. It also consists of one secretary post. The composition is as follows: *Chairman -

, former

vice-chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

NITI Aayog The NITI Aayog (; abbreviation for National Institution for Transforming India) serves as the apex public policy think tank of the Government of the Republic of India, and the nodal agency tasked with catalyzing economic development, and foste ...

* Member - Ajay Narayan Jha, former member, 15th Finance Commission; former finance secretary, Government of India * Member - Annie George Mathew, former special

secretary A secretary, administrative assistant, executive assistant, personal secretary, or other similar titles is an individual whose work consists of supporting management, including executives, using a variety of project management, program evalu ...

, Department of Expenditure,

Ministry of Finance A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfoli ...

, Government of India * Member - Manoj Panda, former director,

Institute of Economic Growth The Institute of Economic Growth (IEG) is an autonomous, multidisciplinary Centre for advanced research and training. Established in 1958, its faculty of about 23 social scientists (economists, demographers and sociologists) and a large body of su ...

* Part-time member - Soumya Kanti Ghosh, group chief economic advisor,

State Bank of India State Bank of India (SBI) is an Indian Multinational corporation, multinational Public sector undertakings in India, public sector bank and financial service body headquartered in Mumbai. It is the largest bank in India with a 23% market shar ...

* Secretary - Ritvik Ranjanam Pandey, Joint Secretary, Department of Revenue, Ministry of Finance, Government of India

Tenure

The tenure of each finance commission is five years.

References

External links

* {{Finance Commission of India Finance Commission of India 2023 establishments in India Government agencies established in the 2020s 2023 in Indian economy 2023 in Indian politics

History and objective

Members

Tenure

See also

References

External links