16th Finance Commission: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the creation of three posts at the level of joint secretary. Two posts are of joint secretary and one post of Economic Adviser for the 16th Finance Commission, according to an official statement on Thursday.
The 16th Finance Commission was constituted in pursuance of Article 280 of the Constitution vide Notification dated December 31, 2023.
The newly created posts are required to assist the Commission in carrying out its functions. All other posts in the Commission have already been created as per the delegated powers, according to the statement.
The central government has appointed Arvind Panagariya as the chairman of 16th Finance Commission. The Commission, which will cover a period of five years between 2026 and 2031, will make its report available by October 31, 2025.
Arvind Panagariya has served Niti Aayog Vice-Chairman between January 2015 and August 2017, and is a professor at Columbia University.
Ritvik Ranjanam Pandey has been appointed as secretary to the Commission.
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