Government Appoints Members to 16th Finance Commission
The committee will be led by Arvind Panagariya, who used to be the vice chairman of Niti Aayog.
Government Appoints Members to 16th Finance Commission: The government has chosen Ajay Narayan Jha, who used to be the spending secretary, and Soumya Kanti Ghosh, who is the chief economic advisor for SBI Group, as well as two other people to serve on the 16th Finance Commission.
The committee will be led by Arvind Panagariya, who used to be the vice chairman of Niti Aayog. It will have four members, and Secretary Ritvik Ranjanam Pandey, two joint secretaries, and an economic advisor will help them.
Government Appoints Members to 16th Finance Commission
A retired official named Annie George Mathew and Artha Global Executive Director Niranjan Rajadhyaksha have been named as full-time members of the 16th Finance Commission. Jha was also a member of the 15th Finance Commission.
The finance ministry said in a notice that Soumya Kanti Ghosh will be a part-time member.
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”The chairman and other members of the commission shall hold office from the date on which they respectively assume office up to the date of submission of report or October 31, 2025, whichever is earlier,” the notification added.
The commission was set up by the government on December 31, 2023, with Panagariya as its head. By October 31, 2025, the group would give the President its report. The study would cover the five years starting April 1, 2026.
In addition to offering tax devolution between the Centre and the states and ways to bring in more money, the commission would also look at how disaster management projects are currently funded using the funds set up by the Disaster Management Act, 2005.
The Finance Commission is a constitutional body that makes ideas about how the center and the state should handle their money.
The 15th Finance Commission, led by NK Singh, said that states should get 41% of the Centre’s tax pool that can be split up over five years, from 2021-22 to 2025-26. This is the same amount of money that the 14th Finance Commission, led by Y V Reddy, said states should get.
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