New Delhi: The Sixteenth Finance Commission was constituted on 31 December 2023 with Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman.
Now the following Members are appointed to the Commission with the approval of the President of India.
They are Ajay Narayan Jha, Annie George Mathew, Niranjan Rajadhyaksha and Soumya Kanit Ghosh.
While Shri Jha was Former Secretary Expendiutre, he has also served as Member of 15th Finance Commission.
Shrimati Mathew was also former Secretary Expenditure in Government of India.
Dr.Rajadhyaksha is the Executive Director Artha Global.
Dr.Ghosh is the Group Chief Economic Advisor to State Bank of India.
The terms of reference of the Commission were notified on 31 December 2023.
The Sixteenth Finance Commission has been requested to make its recommendations available by October, 31, 2025, covering an award period of 5 years commencing 1st April, 2026.
