16th Finance Commission
▪ Shri T. Rabi Sankar, Deputy Governor of RBI, has been appointed as a part-time Member of the 16th Finance Commission (XVIFC) following the resignation of Shri Ajay Narayan Jha.
▪ The 16th Finance Commission (XVIFC) was set up on 31 December 2023.
▪ It is tasked with giving recommendations for the award period from 1 April 2026 to 31 March
2031.
About Finance Commission
▪ A constitutional body constituted under Article 280 of the Indian Constitution.
▪ It recommends the distribution of tax revenues between the Union and States and evaluates
fiscal needs of local bodies.
