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Full-time members of the fee are former expenditure secretary Ajay Narayan Jha, retired bureaucrat Annie George Mathew, and Artha International Government Director Niranjan Rajadhyaksha, whereas SBI Group Chief Financial Advisor Soumya Kanti Ghosh is a part-time member.
“Shri @APanagariya, Chairman – sixteenth Finance Fee, calls on Smt @nsitharaman,” Sitharaman’s workplace mentioned in a submit on X.
The fee, chaired by former vice chairman of Niti Aayog Panagariya, can be assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries and one financial advisor, in its functioning.
The federal government constituted the fee below the chairmanship of Panagariya on December 31, 2023. The panel would submit its report back to the President by October 31, 2025. The report could be for a five-year interval commencing April 1, 2026.
Apart from suggesting tax devolution between the Centre and states and income augmentation measures, the fee would evaluation the current preparations for financing catastrophe administration initiatives close to the funds constituted below the Catastrophe Administration Act, 2005. Finance Fee is a constitutional physique that provides options on centre-state monetary relations.
The erstwhile fifteenth Finance Fee below NK Singh had really useful that states be given 41 per cent of the divisible tax pool of the Centre throughout the five-year interval from 2021-22 to 2025-26, which is on the identical degree as was really useful by 14th Finance Fee below Y V Reddy.
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