16th Finance Commission- Article-280

Cabinet approves creation of 3 officer-level posts for 16^th Finance Commission.

Chairman – Arvind Panagariya
Secretary – Ritvik Ranjanam Pandey
3 new posts – Created at the level of Joint Secretary i.e. 2 posts of Joint Secretary and 1 post of Economic Adviser who are required to assist the Commission in carrying out its functions.
Functions – To suggest the principle of tax devolution between the Centre and States and revenue augmentation measures.
To review the present arrangements for financing disaster management initiatives with reference to the funds constituted under the Disaster Management Act, 2005.
Reporting – It would submit its report to the President by October 31, 2025 and it would be for 5 years commencing April 1, 2026.

Finance Commission of India (FC)

It is a quasi-judicial constitutional body under Article 280 of Indian constitution.
Constituted by – The President of India every 5^th year or at such earlier time as he considers necessary.
1^st FC – 1951 chaired by
Role – To make recommendations regarding
- Sharing of central taxes with states
- Distribution of central grants to states
- Measures to improve the finances of states to supplement the resources of panchayats and municipalities, and
- Any other matter referred to it.
Limitations – Recommendations are only advisory in nature and hence, not binding on the government.

The erstwhile 15th Finance Commission under N.K. Singh had recommended that States be given 41% of the divisible tax pool of the Centre during 5-year period 2021-22 to 2025-26, which is at the same level as was recommended by the 14th Finance Commission.

Source:

Join Our Telegram

Gulf of Aden

Right to Food

Oceanic Anoxic Event 1a and MASS EXTINCTION

25 Dec, 24
SHARE

Oceanic Anoxic Event 1a from the Paris Basin (Environment) Paper-3 PMP OAE 1a refers to a period during the Cretaceous Period (145 million years ago and ended 66 million years ago) when Earth's oceans became depleted of oxygen, causing a significant disruption in marine life. Cause: The event is believed to have been

Viksit Panchayat Karmayogi (Good governance)

26 Dec, 24
SHARE

Viksit Panchayat Karmayogi (Good governance) Governance GS PAPER-2 PMP Dr. Jitendra Singh launched the ‘Viksit Panchayat Karmayogi’ initiative on Good Governance Day, celebrated to mark the 100th birth anniversary of former Prime Minister Atal Bihari Vajpayee. The initiative, which is part of the broader ‘Prashasan Gaon

Major programmes to control Air Pollution

23 Dec, 24
SHARE

Major programmes to control Air Pollution National Clean Air Programme? It was launched by the Ministry of Environment, Forests and Climate Change (MoEFCC) in January 2019. It is the first-ever effort in the country to frame a national framework for air quality management with a time-bound reduction target. The

Air pollution and Air quality Measures in India

21 Dec, 24
SHARE

Air pollution and Air quality Measures in India (Environment) GS Paper-3 P-M-P Air pollution may be defined as the presence of any solid, liquid or gaseous substance including noise and radioactive radiation in the atmosphere in such concentration that may be directly and/or indirectly injurious to humans or other l

Geopolitical Significance of Ports

20 Dec, 24
SHARE

Geopolitical Significance of Ports (IR) Act as geopolitical assets: Ports enhance the projection of strategic reach, which helps strengthen the country’s control over important sea and energy supply routes. E.g. Indian Navy’s staging base at Agalega Islands will enable marine patrols