Govt constitutes 16th Finance Commission with Dr Arvind Panagariya as its Chairman

The Sixteenth Finance Commission has been constituted by the Centre.

  1. Dr. Arvind Panagariya, former NITI Aayog Vice Chairman and current Columbia University Professor, will serve as the Chairman of the 16th Finance Commission.
  2. Ritvik Ranjanam Pandey, an IAS officer, will be the secretary of the Commission.
  3. The Commission’s recommendations will include matters related to the distribution of net proceeds of taxes between the Union and the States, and measures to augment the Consolidated Fund of a State to support Panchayats and Municipalities.
  4. The Commission may review current financing arrangements for Disaster Management initiatives, particularly funds under the Disaster Management Act, 2005, and make appropriate recommendations.
  5. The Finance Commission has been tasked with making its report available by October 31, 2025, covering a five-year period starting from April 1, 2026.

Q: Who has been appointed as the Chairman of the Sixteenth Finance Commission?

a) Dr. Arvind Panagariya
b) Ritvik Ranjanam Pandey
c) Nirmala Sitharaman
d) Dr Subramanyam Swami

Answer: a) Dr. Arvind Panagariya

Q: What is the role of Ritvik Ranjanam Pandey in the Sixteenth Finance Commission?

a) Chairman
b) Secretary
c) Financial Advisor
d) Member

Correct Answer: b) Secretary

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