Centre constitutes 16th Finance Commission with Dr Arvind Panagariya as its Chairman
The Centre has constituted the Sixteenth Finance Commission. Former NITI Aayog Vice Chairman, Dr Arvind Panagariya who is a Professor at Columbia University, will be the Chairman of the 16th Finance Commission.
Ministry of Finance in a statement said that IAS officer Ritvik Ranjanam Pandey will be the secretary of the Commission. The Commission will make recommendations in matters including the distribution between the Union and the States of the net proceeds of taxes and measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State.
The Commission may review the present arrangements on financing Disaster Management initiatives, with reference to the funds constituted under the Disaster Management Act, 2005 and make appropriate recommendations thereon.
The Finance Commission has been requested to make its report available by 31st of October, 2025 covering a period of five years commencing on the 1st of April, 2026.