16th Finance Commission Holds First Meeting Under Chairmanship of Arvind Panagariya
The 16th Finance Commission (FC) convened its inaugural session with Arvind Panagariya at the helm to deliberate upon its Terms of Reference (ToR). The commission aims to engage in comprehensive analytical endeavors and leverage expertise from prominent research institutions and think tanks specializing in fiscal federal relations.
Distribution of Tax Proceeds:
Grants-in-Aid Principles:
Augmentation of State Consolidated Fund:
The 16th FC acknowledges the necessity for extensive consultations with diverse stakeholders, including state governments, local bodies, various ministries of the Government of India, and subject matter experts.
Meeting Details: The meeting took place at Jawahar Vyapar Bhawan in New Delhi.
The commission commits to delivering its recommendations by October 31, 2025, covering a five-year award period starting from April 1, 2026.
The FC is constitutionally mandated to formulate a framework for distributing net tax proceeds between the Centre and states, as well as among states and local bodies. Presently, India allocates 41% of federal taxes to states based on the recommendations of the 15th panel.
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