16th Finance Commission: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the creation of three posts at the level of Joint Secretary. According to an official statement on Thursday, there are two posts of Joint Secretary and one post of Economic Advisor for the 16th Finance Commission.
The 16th Finance Commission was constituted in pursuance of Article 280 of the Constitution through notification dated December 31, 2023.
The newly created posts are needed to assist the Commission in carrying out its functions. According to the statement, all other posts in the commission have already been created as per the powers conferred.
The Central Government has appointed Arvind Panagariya as the Chairman of the 16th Finance Commission. The commission, which will cover a period of five years between 2026 and 2031, will make its report available by October 31, 2025.
Arvind Panagariya served as the Vice Chairman of NITI Aayog between January 2015 and August 2017 and is a professor at Columbia University.
Ritwik Ranjanam Pandey has been appointed Secretary of the Commission.
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