Sixteenth Finance Commission

Sixteenth Finance Commission
16वां वित्त आयोग
	State Emblem of India
Commission overview
Preceding Commission	Fifteenth Finance Commission;
Superseding agency	Seventeenth Finance Commission;
Jurisdiction	Whole of India
Headquarters	16th Finance Commission, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi
Minister responsible	Nirmala Sitharaman, Minister of Finance;
Commission executives	Arvind Panagariya,Former Vice Chairman of NITI Aayog, Chairman; Ajay Narayan Jha,Former IAS, (Member); Annie George Mathew, (Member); SoumyaKanti Ghosh, (Member); Niranjan Rajadhyaksha, ( Member); Ritvik Ranjanam Pandey, IAS, (Secretary);
Parent department	Department of Economic Affairs, Ministry of Finance, Government of India
Key documents	The Constitution of India (Article 280); The Finance Commission (Miscellaneous Provisions) Act, 1951 (Act no. 33 of 1951); S.O. 3755(E) (notification of formation of the commission);
Website	fincomindia.nic.in

Sixteenth Finance Commission is the Finance Commission constituted by 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 Central Government and State Government for a period of five years from April 1, 2026.^[1]

History and Objective[edit]

Sixteenth Finance Commission was formed under Article 280 of the constitution^[2] for determining the sharing of tax revenues between Union Government of India and States for five year period starting from 1 April 2026,^[3]^[4] 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 of states.^[5]^[1]

Members[edit]

The Sixteenth Finance Commission consists of various members and a chairman that is appointed by the President of India. It also consists of one secretary post. The list is as follows^[6]

Chairman - Arvind Panagariya, former vice-Chairman]] of NITI Aayog^[7]^[8]^[9]
Member - Ajay Narayan Jha, former member, 15th Finance Commission and former secretary, Expenditure
Member - Annie George Mathew, former special secretary, Expenditure
Member - Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India
Member - Niranjan Rajadhyaksha, executive director]], Artha Global
Secretary - Ritvik Ranjanam Pandey, IAS

Tenure[edit]

The tenure of each Finance Commission is five years.^[10]

References[edit]

^ ^a ^b "16th finance panel chairperson, members to be appointed over next few days". Business Today. 1 December 2023. Retrieved 31 December 2023.
^ "Centre approves 16th Finance Commission's Terms of Reference. Details here". India Today. 30 November 2003. Retrieved 31 December 2023.
^ "Cabinet clears terms of reference for 16th Finance Commission". The Hindu. 29 November 2023. Retrieved 31 December 2023.
^ "16th Finance Commission's terms are short, but all-encompassing: Somanathan". The Indian Express. 1 December 2023. Retrieved 31 December 2023.
^ "The upcoming 16th Finance Commission has a highly critical task at hand". mint. 5 December 2023. Retrieved 31 December 2023.
^ "Government appoints Members of the Sixteenth Finance Commission". pib.gov.in. Retrieved 2 April 2024.
^ "Government appoints Arvind Panagariya as sixteenth Finance Commission chief". The Hindu. 31 December 2023. Retrieved 31 December 2023.
^ "Arvind Panagariya to chair 16th Finance Commission". The Economic Times. 31 December 2023. Retrieved 31 December 2023.
^ "Former NITI Aayog VC Arvind Panagariya to lead 16th Finance Commission". business-standard.com. 31 December 2023. Retrieved 31 December 2023.
^ "Cabinet suggests setting up of 16th finance commission". The Times of India. 30 November 2023. Retrieved 31 December 2023.

External links[edit]

Official website

[SF2-1] "16th finance panel chairperson, members to be appointed over next few days". Business Today. 1 December 2023. Retrieved 31 December 2023.

[SF5-2] "Centre approves 16th Finance Commission's Terms of Reference. Details here". India Today. 30 November 2003. Retrieved 31 December 2023.

[SF4-3] "Cabinet clears terms of reference for 16th Finance Commission". The Hindu. 29 November 2023. Retrieved 31 December 2023.

[SF3-4] "16th Finance Commission's terms are short, but all-encompassing: Somanathan". The Indian Express. 1 December 2023. Retrieved 31 December 2023.

[SF1-5] "The upcoming 16th Finance Commission has a highly critical task at hand". mint. 5 December 2023. Retrieved 31 December 2023.

[6] "Government appoints Members of the Sixteenth Finance Commission". pib.gov.in. Retrieved 2 April 2024.

[SF6-7] "Government appoints Arvind Panagariya as sixteenth Finance Commission chief". The Hindu. 31 December 2023. Retrieved 31 December 2023.

[SF8-8] "Arvind Panagariya to chair 16th Finance Commission". The Economic Times. 31 December 2023. Retrieved 31 December 2023.

[SF9-9] "Former NITI Aayog VC Arvind Panagariya to lead 16th Finance Commission". business-standard.com. 31 December 2023. Retrieved 31 December 2023.

[SF7-10] "Cabinet suggests setting up of 16th finance commission". The Times of India. 30 November 2023. Retrieved 31 December 2023.

[15th-11] Initially 15th commission was set up for the period from 2020-25, but due to COVID-19 pandemic, the commission's term was set from 2021 to 2026.

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[n 1]

v t e Finance Commission of India
1950–2000	1st (1952–1957) 2nd (1957–1962) 3rd (1962–196) 4th (1966–1969) 5th (1969–1974) 6th (1974–1979) 7th (1979–1984) 8th (1984–1989) 9th (1989–1995) 10th (1995–2000)
2000–2050	11th (2000–2005) 12th (2005–2010) 13th (2010–2015) 14th (2015–2020) 15th (2021–2026)^{[n 1]} 16th (2026–2031)
^ Initially 15th commission was set up for the period from 2020-25, but due to COVID-19 pandemic, the commission's term was set from 2021 to 2026.

History and Objective[edit]

Members[edit]

Tenure[edit]

See also[edit]

References[edit]

External links[edit]