16वां वित्त आयोग | |
Commission overview | |
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Preceding Commission | |
Superseding agency |
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Jurisdiction | Whole of India |
Headquarters | 16th Finance Commission, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi |
Minister responsible | |
Commission executives |
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Parent department | Department of Economic Affairs, Ministry of Finance, Government of India |
Key documents | |
Website |
fincomindia |
Sixteenth Finance Commission is the Finance Commission constituted by Government of India under Article 280 of Constitution. Arvind Panagariya has been appointed as the Chief of the commission with the main task of determining revenue sharing between Central Government and State Government for a period of five years from April 1, 2026. [1]
Sixteenth Finance Commission was formed under Article 280 of the constitution [2] for determining the sharing of tax revenues between Union Government of India and States for five year period starting from 1 April 2026, [3] [4] determining the principles for granting of the aid from the Consolidated Fund of India to states and implementation of various measures for augmenting the resources of Consolidated Fund to meet the requirements of Panchayats and Municipalities of states. [5] [1]
The Sixteenth Finance Commission consists of various members and a chairman that is appointed by the President of India. It also consists of one secretary post. The list is as follows [6]
The tenure of each Finance Commission is five years. [10]