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Who was appointed as the Chairperson of the 16th Finance Commission in early 2024?
Arvind Panagariya
N.K. Singh
Shaktikanta Das
Ajay Narayan Jha
Arvind Panagariya
Dr. Arvind Panagariya was appointed as the Chairperson of the 16th Finance Commission in early 2024.
The 16th Finance Commission was constituted by the President of India under Article 280 of the Constitution to define financial relations and tax devolution between the Centre and the states. Dr. Arvind Panagariya, a noted economist and former Vice-Chairman of NITI Aayog, was appointed to lead this crucial panel to formulate fiscal recommendations. The commission includes other expert members and part-time members like Dr. Niranjan Rajadhyaksha to review current economic scenarios and resource allocation strategies.
The Finance Commission is a constitutional body established under Article 280 of the Indian Constitution by the President. It is constituted every five years or earlier to recommend the distribution of tax proceeds between the Union and the states, as well as grants-in-aid principles.
Appointed Chairperson: Dr. Arvind Panagariya
Commission: 16th Finance Commission
Constitutional Provision: Article 280 of the Indian Constitution
Appointing Authority: President of India
A is correct тАФ Dr. Arvind Panagariya was appointed as the Chairperson of the 16th Finance Commission.
Remember that N.K. Singh chaired the 15th Finance Commission, while Dr. Arvind Panagariya leads the 16th Finance Commission established under Article 280.
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