16th Finance Commission Advisory Council

• Formation Date: July 9, 2024
• Members: 5-member council
  • Convener: Dr. Poonam Gupta
  • Members: D.K. Srivastava, Neelkanth Mishra, Pranjul Bhandari, Rahul Bajoria

Key Points on 16th Finance Commission:

• Constitutional Body: Recommends financial relations between the Centre and states.
• Chairman: Arvind Panagariya (appointed on December 31, 2023)

• Members:
  • Full-time: Ajay Narayan Jha, Annie George Mathew, Manoj Panda
  • Part-time: Soumya Kanti Ghosh
• Objective: Recommends the distribution of net tax receipts between Union and states.
• Report Submission: By October 31, 2025
  • Effective Period: For 5 years starting from April 1, 2026.
• First Meeting: Held on February 14, 2024