Who has been appointed as the chairman of 16th Finance Commission?
(A) N K Singh
(B) Arvind Panagariya
(C) Dr. Y. V Reddy
(D) Soumya Kanti Ghosh
Answer: B
The Sixteenth Finance Commission was constituted on 31.12.2023 (December 31, 2023) and Shri Arvind Panagariya, former Vice-Chairman of NITI Aayog appointed as its Chairman. Members are appointed to the Commission with the approval of the President of India. The Sixteenth Finance Commission has been requested to make its recommendations available by October, 31, 2025, covering an award period of 5 years commencing 1st April, 2026.
Also, check: 2024 Nobel Prize Winners: Full List of Pioneers Shaping Science, Society, Culture, and Peace
Members of the 16th Finance Commission of India:
| 1. | Shri. Ajay Narayan Jha, former member, 15th Finance Commission and former Secretary, Expenditure | Full time Member |
| 2. | Smt. Annie George Mathew, former Special Secretary, Expenditure | Full time Member |
| 3. | Dr. Manoj Panda, Former Director of the Institute of Economic Growth, Delhi and the Centre for Economic and Social Studies (CESS), Hyderabad | Full time Member |
| 4. | Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India | Part time Member |
Also, check: 6-12 NCERT History Notes (OLD+NEW) Useful for UPSC, State PSC Civil services and other exams
List of Finance Commissions:
So far 16 Finance Commissions have been appointed which are as follows:
| Commission | Establishment Year | Chairman | Duration |
| 1 | 1951 | K. C. Neogy | 1952–57 |
| 2 | 1956 | K. Santhanam | 1957–62 |
| 3 | 1960 | A. K. Chanda | 1962–66 |
| 4 | 1964 | P. V. Rajamannar | 1966–69 |
| 5 | 1968 | Mahavir Tyagi | 1969–74 |
| 6 | 1972 | K. Brahmananda Reddy | 1974–79 |
| 7 | 1977 | J. M. Shelat | 1979–84 |
| 8 | 1983 | Y. B. Chavan | 1984–89 |
| 9 | 1987 | N. K. P. Salve | 1989–95 |
| 10 | 1992 | K. C. Pant | 1995–00 |
| 11 | 1998 | A. M. Khusro | 2000–05 |
| 12 | 2002 | C. Rangarajan | 2005–10 |
| 13 | 2007 | Dr. Vijay L. Kelkar | 2010–15 |
| 14 | 2013 | Dr. Y. V Reddy | 2015–20 |
| 15 | 2017 | N. K. Singh | 2020-21; 2021-26 |
| 16 | 2023 | Arvind Panagariya | 2026 – 31 |