The Sixteenth Finance Commission has been constituted by the Centre.
- Dr. Arvind Panagariya, former NITI Aayog Vice Chairman and current Columbia University Professor, will serve as the Chairman of the 16th Finance Commission.
- Ritvik Ranjanam Pandey, an IAS officer, will be the secretary of the Commission.
- 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.
- The Commission may review current financing arrangements for Disaster Management initiatives, particularly funds under the Disaster Management Act, 2005, and make appropriate recommendations.
- 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
