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.
On the 10th April, 2026 Sunil Bajpai has assumed the charge of the Principal Chief…
India's retail inflation edged up to 3.4% in the Month of the March 2026 which…
Nitish Kumar Chief Minister of Bihar have resigned from the post on the 14th April…
For the global recognition in the Cricket Mitchell Starc and Deepti Sharma have been named…
Australia has appointed the Susan Coyle as the first-ever female Army Chief. This announcement was…
India's Sawan Barwal has broken the country's longest standing marathon national record and ended the…