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Sixteenth Finance Commission

16वां वित्त आयोग
State Emblem of India
Commission overview
Preceding Commission	Fifteenth Finance Commission
Superseding Commission	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, Chairman Ajay Narayan Jha, Member Annie George Mathew, Member Manoj panda, Member Soumya Kanti Ghosh, Part-Time Member Ritvik Ranjanam Pandey, 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 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 Central Government and State Government for a period of five years from April 1, 2026.

History and objective

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

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:

• Chairman - Arvind Panagariya, former vice-chairman of NITI Aayog
• Member - Ajay Narayan Jha, former member, 15th Finance Commission; former finance secretary, Government of India
• Member - Annie George Mathew, former special secretary, Department of Expenditure, Ministry of Finance, Government of India
• Member - Manoj Panda, former director, Institute of Economic Growth
• Part-time member - Soumya Kanti Ghosh, group chief economic advisor, State Bank of India
• Secretary - Ritvik Ranjanam Pandey, Joint 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

1. ^ "16th finance panel chairperson, members to be appointed over next few days". Business Today. 1 December 2023. Retrieved 31 December 2023.
2. "Centre approves 16th Finance Commission's Terms of Reference. Details here". India Today. 30 November 2023. Retrieved 31 December 2023.
3. "Cabinet clears terms of reference for 16th Finance Commission". The Hindu. 29 November 2023. Retrieved 31 December 2023.
4. "16th Finance Commission's terms are short, but all-encompassing: Somanathan". The Indian Express. 1 December 2023. Retrieved 31 December 2023.
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.
7. "Government appoints Arvind Panagariya as sixteenth Finance Commission chief". The Hindu. 31 December 2023. Retrieved 31 December 2023.
8. "Arvind Panagariya to chair 16th Finance Commission". The Economic Times. 31 December 2023. Retrieved 31 December 2023.
9. "Former NITI Aayog VC Arvind Panagariya to lead 16th Finance Commission". business-standard.com. 31 December 2023. Retrieved 31 December 2023.
10. ^ "Centre appoints Ajay Narayan Jha, Annie Mathew, Soumya Kanti Ghosh as finance commission members". www.fortuneindia.com. 12 January 2024. Retrieved 19 June 2024.
11. "Government appoints Manoj Panda as 16th Finance Commission member". The Economic Times. 9 April 2024. ISSN 0013-0389. Retrieved 19 June 2024.
12. "Cabinet suggests setting up of 16th finance commission". The Times of India. 30 November 2023. Retrieved 31 December 2023.

External links

• Official website

v t e Ministry of Finance (India)
Departments	Economic Affairs Economic Division: Economic Survey Budget Division: Union budget Expenditure Pay Commission 7th Central Pay Commission (CPC) and Defence Forces Sixth Central Pay Commission Revenue Income Tax Department Central Board of Indirect Taxes and Customs Financial Services Pradhan Mantri Jan Dhan Yojana DIPAM Disinvestment in India Disinvestment of Public Sector Units in India DPE Efficient monitoring of the capital expenditure Asset monetisation and financial health of the Central Public Sector Enterprises (CPSEs)
Secretaries	Economic Affairs Rajiv Mehrishi Shaktikanta Das Subhash Chandra Garg Atanu Chakraborty (incumbent) Revenue Shaktikanta Das Ajay Bhushan Pandey Hasmukh Adhia (incumbent) Finance Ratan P. Watal Ashok Lavasa Hasmukh Adhia Ajay Narayan Jha Rajiv Kumar (incumbent)
Finance ministers	R. K. Shanmukham Chetty John Mathai C. D. Deshmukh T. T. Krishnamachari Jawaharlal Nehru Morarji Desai Sachindra Chaudhuri Indira Gandhi Yashwantrao Chavan Chidambaram Subramaniam Hirubhai M. Patel Charan Singh Hemwati Nandan Bahuguna R. Venkataraman Pranab Mukherjee Vishwanath Pratap Singh Rajiv Gandhi N. D. Tiwari Shankarrao Chavan Madhu Dandavate Yashwant Sinha Manmohan Singh Jaswant Singh P. Chidambaram I. K. Gujral Arun Jaitley Piyush Goyal Nirmala Sitharaman (incumbent)
Ministers of state for finance	Nirmala Sitharaman Jayant Sinha Arjun Ram Meghwal Pon Radhakrishnan Anurag Thakur Bhagwat Karad (incumbent) Pankaj Chaudhary (incumbent)
Chief Economic Advisor	JJ Anjaria IG Patel IG Patel VK Ramaswamy Ashok Mitra Manmohan Singh RM Honavar Bimal Jalan Nitin Desai Deepak Nayyar Shankar Acharya Rakesh Mohan Ashok K Lahiri Arvind Virmani Kaushik Basu Raghuram Rajan Arvind Subramanian Krishnamurthy Subramanian V. Anantha Nageswaran (incumbent)
Finance commissions	1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th 13th 14th 15th

• Finance Commission of India
• 2023 establishments in India
• Government agencies established in the 2020s
• 2023 in Indian economy
• 2023 in Indian politics