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Who was appointed as the Chairman of the 16th Finance Commission of India in 2024?
Arvind Panagariya
N.K. Singh
Shaktikanta Das
Ajay Seth
Arvind Panagariya
Dr. Arvind Panagariya was appointed as the Chairman of the Sixteenth Finance Commission of India in December 2023.
The Sixteenth Finance Commission was formally constituted by the Government of India under Article 280 of the Constitution to determine the method and formula for the devolution of tax revenues between the Centre and the States. Dr. Arvind Panagariya, a renowned professor of economics and former Vice-Chairman of NITI Aayog, was selected by the President of India to lead this vital constitutional body. The Commission's mandate includes shaping fiscal federalism and resource allocation for its award period.
The Finance Commission is a constitutional body set up under Article 280 of the Indian Constitution by the President of India every five years, or earlier as considered necessary. It makes recommendations on the distribution of financial resources between the Union government and state governments.
Chairman appointed: Dr. Arvind Panagariya
Constitution date: December 31, 2023
Constitutional provision: Article 280 of the Indian Constitution
Appointing authority: President of India
A is correct тАФ Dr. Arvind Panagariya was appointed as the Chairman of the 16th Finance Commission of India.
Remember that N.K. Singh chaired the 15th Finance Commission, while Dr. Arvind Panagariya chairs the 16th Finance Commission.
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