16th Finance Commission submits its report to President Murmu
The Sixteenth Finance Commission (XVIFC) was constituted by the President in pursuance of Article 280 of the Constitution.
The Sixteenth Finance Commission (XVIFC) was constituted by the President in pursuance of Article 280 of the Constitution.
Amid ongoing deliberations with the 16th Finance Commission, the Government of Jharkhand has placed a formal request seeking Rs 3.03 lakh crore in financial assistance over the next five years.
The 16th Finance Commission of India on Monday applauded Uttarakhand for its fiscal management and efforts to increase income.
The party also demanded a special grant for Bihar, the Backward Area Grant Fund, and a special package for 95 lakh poor families that are forced to live on a monthly income of less than Rs 6,000.
The non-BJP ruled states of Tamil Nadu, Karnataka, Telangana and Punjab will participate in the conclave.
The five members of the Sixteenth Finance Commission’s Advisory Council are Dr. D.K. Srivastava, Neelkanth Mishra, Dr. Poonam Gupta, Pranjul Bhandari, and Rahul Bajoria.
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.
