On December 31, 2023, the Indian Government constituted the Sixteenth Finance Commission, appointing Dr. Arvind Panagariya as its Chairman.
The Sixteenth Finance Commission has been tasked with presenting its report by the 31st day of October 2025, encompassing a five-year period starting from the 1st day of April 2026.
Panagariya served as the first vice chairman of the NITI Aayog
Arvind Panagariya served the position of the first Vice Chairman of NITI Aayog, equivalent to the rank of a Cabinet minister, from January 2015 to August 2017.
- During this period, he additionally fulfilled the role of India’s G20 Sherpa and led the Indian delegations involved in negotiating the G20 Communiqués.
Professor of Indian Political Economy at Columbia University
At present, Arvind Panagariya serving as the Jagdish Bhagwati Professor of Indian Political Economy at Columbia University.
- He has consistently provided commentary on the Indian political economy. This includes in-depth discussions on state affairs, a responsibility integral to his role at the Finance Commission.
About Finance Commission
The Finance Commission is a constitutionally mandated body appointed by the President under Article 280 of the Constitution.
The Finance Commission is constituted once every five years. The first Finance Commission was established in 1951, and the Fifteenth Finance Commission was constituted in November 2017, coinciding with the abolition of the Planning Commission.
- Shri N.K. Singh was the Chairman of 15th Finance Commission of India
Presently, India allocates 41 percent of federal taxes to states, in line with the recommendation of the 15th commission.
Core responsibility
The Finance Commission is tasked with assessing the financial condition of both the Union and State Governments, proposing the division of taxes between them, and establishing principles to govern the distribution of these taxes among the various States.
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