Sixteenth Finance Commission Constitutes Five-Member Advisory Council
The Sixteenth Finance Commission has constituted an advisory council with five members to advise the Commission on any of the Terms of Reference (ToR) or related subjects. The Finance Commission, as per the ToR, will also suggest measures to augment the Consolidated Fund of a State to supplement the resources of panchayats and municipalities.
Poonam Gupta, Director General of the National Council of Applied Economic Research, has been appointed as the convenor of the Advisory Council. The other members are:
The Finance Commission is a constitutionally mandated body established every five years to devise a formula for distributing net tax proceeds between the Centre and the states as well as among states and local bodies. Currently, India shares 41% of federal taxes with states as recommended by the 15th panel.
Hours after the death of Iran’s Supreme Leader Ayatollah Ali Khamenei was confirmed the senior…
Iranian state media has confirmed that Supreme Leader Ayatollah Ali Khamenei, Iran’s most powerful political…
Did you know that calendars are not the same everywhere in the world? Different countries…
Jammu and Kashmir etched their name in history by winning the Ranji Trophy 2025-26 in…
Union Minister Sarbananda Sonowal inaugurated three key infrastructure projects on National Waterway-2 (NW-2) along the…
The Indian Air Force (IAF) displayed its combat power during Exercise Vayu Shakti 2026 at…