The Indian government has appointed key members to the 16th Finance Commission, which is chaired by former Vice Chairman of Niti Aayog, Arvind Panagariya. The appointments include:
- Ajay Narayan Jha: Former Expenditure Secretary and a member of the previous 15th Finance Commission.
- Soumya Kanti Ghosh: Chief Economic Advisor of the SBI Group, appointed as a part-time member.
- Annie George Mathew: Retired bureaucrat appointed as a full-time member.
- Niranjan Rajadhyaksha: Executive Director of Artha Global, appointed as a full-time member.
The 16th Finance Commission will be assisted by Secretary Ritvik Ranjanam Pandey, two Joint Secretaries, and one Economic Advisor. The Commission’s mandate includes suggesting tax devolution between the central and state governments, proposing revenue augmentation measures, and reviewing the financing arrangements for disaster management initiatives.
The Commission is set to submit its report to the President by October 31, 2025, covering the five-year period beginning April 1, 2026. The Finance Commission is a constitutional body responsible for providing recommendations on center-state financial relations in India. The previous 15th Finance Commission, led by NK Singh, had recommended a tax devolution of 41% to the states from the divisible tax pool of the center for the period 2021-22 to 2025-26.
