- Arvind Panagariya has been appointed as chairman of the sixteenth Finance Commission.
- The government has appointed Former Niti Aayog vice chairman Arvind Panagariya as the Chairman of the 16th Finance Commission.
- Ritvik Ranjanam Pandey will be the secretary to the 16th Finance Commission.
- The 16th Finance commission will submit its report for the five-year period (2026-27 to 2030-31) to the President by October 31, 2025.
- The 15th Finance Commission was headed by NK Singh and recommended states to give 41% of the divisible tax pool of the Centre to states.
Finance Commission
- Article 280 of the Indian Constitution mentions about the Finance Commission.
- It is a quasi-judicial body that is constituted by the President every fifth year.
- The Finance Commission is a constitutional body to give suggestions on centre-state financial relations.
- It consists of a chairman and four other members that are appointed by the President.