Sixteenth Finance Commission
2023 finance commission of India
From Wikipedia, the free encyclopedia
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 the Central Government and State Governments for a period of five years from 1 April, 2026.[1]
- Seventeenth Finance Commission
- 16th Finance Commission, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi
| १६वां वित्त आयोग | |
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| Commission overview | |
|---|---|
Preceding Commission | |
Superseding Commission |
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| Jurisdiction | Whole of India |
| Headquarters |
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Minister responsible | |
Commission executives |
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Parent department | Department of Economic Affairs, Ministry of Finance, Government of India |
Key documents | |
| Website | fincomindia |
History and objective
Sixteenth Finance Commission was formed under Article 280 of the constitution[2] to determine the sharing of tax revenues between the Union Government of India and States for five year period starting from 1 April 2026.[3][4] It determines 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.[5][1]
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:[6]
Members
| S. no. | Name |
Portrait |
Designation |
Background in finance and economics |
|---|---|---|---|---|
1 |
 |
Chairman |
Former vice-chairman of NITI Aayog[7][8][9] | |
2 |
 |
Member |
Former member, 15th Finance Commission; former finance secretary, Government of India[10] | |
3 |
Annie George Mathew |
Former special secretary, Department of Expenditure, Ministry of Finance, Government of India[10] | ||
4 |
Manoj Panda |
Former director, Institute of Economic Growth[11] | ||
5 |
Soumya Kanti Ghosh |
Member (part-time) |
Group chief economic advisor, State Bank of India[10] | |
6 |
Ritvik Ranjanam Pandey |
Secretary |
Joint Secretary, Department of Revenue, Ministry of Finance, Government of India[10] |
Tenure
The tenure of each finance commission is five years.[12]