16th finance commission: Arvind Panagariya has been

Arvind Panagariya has been appointed as the Chief of the Commission with the main task of determining revenue sharing between Central Government and State Government for a period of five years from April 1, 2026. [1] The Finance Commission of India (FCI), a constitutional body, stands as a cornerstone of the country’s fiscal federalism. Through a balanced and fair distribution of financial resources between the Center and the States, it ensures equitable growth across the country. This article aims to study in detail the Finance Commission of India (FCI), including its constitutional mandate, composition, powers, functions, challenges faced by it, and other related aspects. The Sixteenth Finance Commission was constituted on 31.12.2023 with Shri Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman. Now the following members are appointed to the Commission with the approval of the President of India. Learn about the key terms and functions of the 16th Finance Commission, which will recommend the revenue distribution between the Centre and the States from 2026. Compare the criteria and recommendations of the 15th Finance Commission and previous commissions.