New Delhi, November 17 (IANS) Prime Minister Narendra Modi on Monday met a delegation of 16th Finance Commission (XVIFC) members led by Chairman Dr. Arvind Panagariya.
The Commission submitted a copy of its report covering a period of five years starting from April 1, 2026, which made recommendations on the distribution of net proceeds of taxes between the Center and the states as well as the allocation of respective shares of such income among the states, grants-in-aid to the states, review of the arrangements for financing disaster management initiatives, etc.
“Met a delegation of members of the 16th Finance Commission led by Commission Chairman Arvind Panagariya,” the Prime Minister wrote on his social media platform ‘X’.
Earlier, XVIFC members submitted their report to President Draupadi Murmu. The commission also handed over a copy of the report to Union Finance Minister Nirmala Sitharaman.
During its tenure, the XVIFC conducted a detailed analysis of the finances of the Center and the States and prepared a report after extensive consultation with the Central Government, State Governments, local governments at various levels, chairpersons and members of former Finance Commissions, eminent academic institutions, multilateral institutions, the Advisory Council of the Commission and other sector experts.
“The report will be available in the public domain after it is presented in Parliament by the Union Finance Minister under Article 281,” an official statement said.
The Commission (XVIFC) was constituted by the President of India and headed by Dr. Arvind Panagariya.
XVIFC members were Annie George Mathew, Dr. Manoj Panda, T. Rabi Shankar and Dr. Soumyakanti Ghosh, and XVIFC Secretary Ritwik Pandey accompanied the Chairman.
–IANS
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