Who's WhoTelephone Directory- Sixteenth Finance Commission As per the clause (1) of article 280 of the Constitution, the Finance Commission is to be constituted every fifth year or earlier. However, as the recommendations of the 15th FC cover the six-year period up to 31st March 2026, the 16th FC is proposed to be constituted now. A comprehensive UPSC resource on the 16th Finance Commission of India (2026–31), covering its overview, terms of reference, tax devolution, grants-in-aid, fiscal federalism issues, comparison with the 15th Finance Commission. The Sixteenth Finance Commission was constituted on 31.12.2023 with Shri Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman. Now the following members are appointed to the Commission with the approval of the President of India.
