16th Finance Commission invites suggestions on terms of reference
The Commission has been constituted in pursuance of the provisions of the Constitution of India by the President with Dr Arvind Panagariya as its Chairman.
The Commission has been constituted in pursuance of the provisions of the Constitution of India by the President with Dr Arvind Panagariya as its Chairman.
In this regard, the commission has uploaded eligibility, terms of reference, remuneration and application form on its website fincomindia.nic.in.
The members of the commission acknowledged the need for wide-ranging consultations with stakeholders, including state governments, local bodies, Union ministries, and experts.
A notification issued by the Union Finance Ministry spelled out terms of reference for the Finance Commission.
Article 280 (1) of the Constitution provides for setting up of a Finance Commission to make recommendations on the distribution of net proceeds of taxes between the Union and the States and allocation between the States of respective shares of such proceeds.
