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Centre constitutes 16th Finance Commission with Dr Arvind Panagariya as its Chairman

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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. 

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