Recently Arvind Panagariya has been made the Chairman of the 16th Finance Commission.

Recently Arvind Panagariya has been made the Chairman of the 16th Finance Commission.

Daily Current Affairs   /   Recently Arvind Panagariya has been made the Chairman of the 16th Finance Commission.

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Category : Appointment/Resignation Published on: January 02 2024

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  • The 16th Finance Commission was constituted by the President in December 2023.
  • Arvind Panagariya has been made the Chairman of the 16th Finance Commission.
  • Arvind Panagariya has been the former Vice Chairman of NITI Aayog.
  • This Finance Commission will submit its report to the President by October 31, 2025.
  • This commission will give recommendations for the next 5 years from April 1, 2026.
  • Finance Commission is a constitutional institution.
  • It is formed under Article 280 of the Constitution.
  • Its function is to recommend the distribution of taxes between the Center and the states and to decide the framework for distribution of taxes among the states.
  • N. K. Singh was made Chairman of the 15th Finance Commission. 
  • K. C. Niyogi was the chairman of the first Finance Commission constituted in the year 1951.
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