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Sixteenth Finance Commission members appointed by GoI
Kanwar Inder singh/ royalpatiala.in News/ january 31,2024
The Sixteenth Finance Commission was constituted on 31.12.2023 with Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman.
Now the following members are appointed to the Commission with the approval of the President of India.
| 1. | Shri. Ajay Narayan Jha, former member, 15th Finance Commission and former Secretary, Expenditure | Full time Member |
| 2. | Smt. Annie George Mathew, former Special Secretary, Expenditure | Full time Member |
| 3. | Dr. Niranjan Rajadhyaksha, Executive Director, Artha Global | Full time Member |
| 4. | Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India | Part time Member |
The terms of reference of the Commission were notified on 31.12.2023.
The Sixteenth Finance Commission has been requested to make its recommendations available by October, 31, 2025, covering an award period of 5 years commencing 1st April, 2026.
The Finance Commission shall make recommendations as to the following matters, namely:
- The distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under Chapter I, Part XII of the Constitution and the allocation between the States of the respective shares of such proceeds;
- The principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States by way of grants-in-aid of their revenues under article 275 of the Constitution for the purposes other than those specified in the provisos to clause (1) of that article; and
- The measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.
