Four Members Appointed to 16th Finance Commission by President of India
New Delhi: Four members have been appointed to the Sixteenth Finance Commission after receiving an approval from the President of India, said the Ministry of Finance (MoF) on Wednesday.
MoF said the Sixteenth Finance Commission was constituted on 31.12.2023 with Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman.
The four members who have been appointed to the Sixteenth Finance Commission are Ajay Narayan Jha, former member, 15th Finance Commission and former Secretary, Expenditure; Annie George Mathew, former Special Secretary, Expenditure; Dr. Niranjan Rajadhyaksha, Executive Director, Artha Global and Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India.
Except Dr Ghosh, rest three members have been appointed as full-time members. The Finance Ministry said that the terms of reference of the Commission were notified on 31.12.2023.
“The Sixteenth Finance Commission has been requested to make its recommendations available by October 31, 2025, covering an award period of 5 years commencing 1st April, 2026,” said the MoF.