Key Points
The Union Cabinet on Thursday met and approved the creation of posts for the Sixteenth Finance Commission, ET Now reported...
The centre, in December 2023, had appointed former Vice-Chairman of Niti Aayog Arvind Panagariya, to head the 16th Finance Commission..
Ritwik R Pandey was chosen as the secretary of the commission, while the names of other members will be notified separately, the government had siad...
The Finance Commission is a constitutional body responsible for deciding how tax revenues are divided between the central government and the states...
As per Article 280 of the Constitution, the commission is required to make recommendations on the distribution of the net proceeds of taxes between the centre and the states..
