Arvind Panagariya.
Credit: PTI File Photo
New Delhi: The central government will appoint three new officers at joint secretary level to assist in functioning of the 16th Finance Commission headed by Arvind Panagariya.
The Union Cabinet chaired by Prime Minister Narendra Modi on Thursday approved the creation of three posts - two posts of Joint Secretary and one post of Economic Adviser, who will also be of joint secretary-level.
“The newly created posts are required to assist the Commission in carrying out its functions. All other posts in the Commission have already been created as per the delegated powers,” the union finance ministry said in a statement.
The Finance Commission is a constitutional body constituted normally every five year to suggest tax devolution between the centre and states.
A notification regarding the constitution of the 16th Finance Commission was issued on December 31, 2023.
Apart from suggesting tax devolution, the Commission has also been asked to review the present arrangements for financing disaster management initiatives with reference to the funds constituted under the Disaster Management Act, 2005.
It has also been mandated to suggest measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.
Former vice chairman of NITI Aayog and a professor at Columbia University Arvind Panagariya has been appointed as the chairman of the commission, while 1998-batch Karnataka cadre IAS officer Ritvik Ranjanam Pandey has been named as the secretary to the Commission.
The Commission has been asked to submit its report to the President of India by October 31, 2025.