Manoj Panda appointed as new member of the XVI Finance Commission

• The government has appointed Manoj Panda, former director at the Institute of Economic Growth as the full-time member of the 16th Finance Commission.
• He replaced the Niranjan Rajadhyaksha.
• The Sixteenth Finance Commission is expected to submit its report by October 31, 2025, outlining financial recommendations for the upcoming five-year period starting from April 1, 2026. The commission initiated its activities with its first meeting held on February 14, 2024.

MEMBERS OF THE 16TH FINANCE COMMISSION

• According to Article 280 of the constitution, the Finance Commission comprises a Chairman and four other members. The Finance Commission (Miscellaneous Provisions) Act, 1951, enacted by the Parliament, mentions the qualifications of the Chairman and members of the Finance Commission.
• Chairman – Dr Arvind Panagariya, former vice-chairman of the NITI Aayog

OTHER MEMBERS

• Ajay Narayan Jha – former secretary of Expenditure, Union Ministry of Finance,
• Annie George Mathew– former special secretary of Expenditure, Union Ministry of Finance
• Manoj Panda – an eminent economist
• Soumya Kanti Ghosh– He has been appointed as a part-time member. He was the former group chief economic advisor of the State Bank of India.