“The Sixteenth Finance Fee (XVIFC) invitations ideas/views from most people, organisations and people on the phrases of reference for the XVIFC as specified beneath, in addition to the overall method that the XVIFC might undertake. Views are additionally invited on every other problem related to the work of the XVIFC,” an official assertion stated.
The Fee below the Chairmanship of Arvind Panagariya, was constituted on December 31, 2023. Former expenditure secretary Ajay Narayan Jha, retired bureaucrat Annie George Mathew and economist Manoj Panda are full-time members of the fee, whereas SBI Group Chief Financial Advisor Soumya Kanti Ghosh is a part-time member. It could submit its report back to the President by October 31, 2025. The report could be for 5 years, commencing April 1, 2026.
Strategies could also be submitted by the web site of the 16th Finance Fee ( below the part ‘Name for Strategies’. In addition to suggesting tax devolution between the Centre and States and income augmentation measures, the fee would evaluate the current preparations for financing catastrophe administration initiatives associated to the funds constituted below the Catastrophe Administration Act, 2005.
The Finance Fee is a constitutional physique that offers ideas on centre-State monetary relations. The erstwhile 15th Finance Fee below NK Singh had really helpful that states be given 41 per cent of the divisible tax pool of the Centre through the five-year interval 2021-22 to 2025-26, which is on the similar degree as was really helpful by the 14th Finance Fee below YV Reddy.
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