New Delhi. The Sixteenth Finance Commission was constituted on 31.12.2023 with Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman.
Now the following members are appointed to the Commission with the approval of the President of India.
| 1. | Ajay Narayan Jha, former member, 15th Finance Commission and former Secretary, Expenditure | Full time Member |
| 2. | Annie George Mathew, former Special Secretary, Expenditure | Full time Member |
| 3. | Dr. Niranjan Rajadhyaksha, Executive Director, Artha Global | Full time Member |
| 4. | Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India | Part time Member |
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.
