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