Sixteenth Finance Commission is the Finance Commission constituted by the Government of India under Article 280 of Constitution. Arvind Panagariya has been appointed as the Chief of the Commission with the main task of determining revenue sharing between the Central Government and State Governments for a period of five years from 1 April, 2026.
History and objective
Sixteenth Finance Commission was formed under Article 280 of the constitution to determine the sharing of tax revenues between the Union Government of India and States for five year period starting from 1 April 2026. It determines 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 of states.
Members
The Sixteenth Finance Commission comprises a chairman and various members that are appointed by the president of India. It also consists of one secretary post. The composition is as follows: Members +Profile of members of the FifteenthFinance CommissionFormer vice-chairman of NITI AayogFormer member, 15th Finance Commission; former finance secretary, Government of IndiaFormer special secretary, Department of Expenditure, Ministry of Finance, Government of IndiaFormer director, Institute of Economic GrowthGroup chief economic advisor, State Bank of IndiaJoint Secretary, Department of Revenue, Ministry of Finance, Government of India
Tenure
The tenure of each finance commission is five years.
See also
Fifteenth Finance Commission
References
External links