NEW DELHI: Former vice-chairman of Niti Aayog Arvind Panagariya was on Sunday appointed chairman of the 16th Finance Commission. Panagariya was the first vice-chairman of the government’s policy think-tank and he held the position from January 2015 to August 2017, when he resigned.
As a chairman of the finance commission, Panagariya will have the difficult task of formulating a revenue-sharing model amid the growing chasm between the northern and the southern states. The latter have been complaining of getting very little from the Centre’s divisible tax pool due to the poor performance of northern states such as Bihar.
Ritvik Ranjanam Pandey, joint secretary in the Union finance ministry, has been appointed secretary to the Commission. The other members will be notified separately. The Finance Commission is expected to present its comprehensive report by October 31, 2025, covering a period of five years commencing from April 1, 2026.