The government has extended the tenure of the 16th Finance Commission by one month till November 30. The 16th Finance Commission was constituted by the government on December 31, 2023, with former Niti Aayog vice-chairman Arvind Panagariya as its Chairman.
The government on Sunday appointed former Niti Aayog vice chairman Arvind Panagariya as the Chairman of the 16th Finance Commission. Joint Secretary in the finance ministry Ritvik Ranjanam Pandey will be the secretary to the commission, the government said in a notification. "The President is pleased to constitute a Finance Commission with Dr Arvind Panagariya, former Vice-Chairman, NITI Aayog and Professor, Columbia University, as the Chairman. Members of the Commission will be notified separately," it said.
Ashok Lahiri, a distinguished economist with experience in government, the private sector, and electoral politics, has been appointed as the new Vice-Chairman of NITI Aayog, tasked with strengthening India's reform trajectory and policy-making.
The Finance Commission, which makes recommendations on sharing of tax revenues by the Centre and States, has suggested a new path for fiscal prudence in its report submitted to President Pratibha Patil on Wednesday.
Kerala, Tamil Nadu and West Bengal have been fiscally stressed for a considerable period of time, and there are no easy ways to mobilise revenues to meet the cost of the promised freebies, particularly in the prevailing difficult economic scenario, points out M Govinda Rao.
The 16th Finance Commission, led by Arvind Panagariya, has recommended maintaining the states' share in central taxes at 41% for the five-year period starting April 1, 2026. The government has accepted this recommendation, with Rs 1.4 lakh crore allocated to states for FY 2026-27 as Finance Commission Grants.
The Central Information Commission has ruled that the Board of Control for Cricket in India does not qualify as a 'public authority' under the Right to Information Act, effectively placing it outside the scope of RTI disclosures.
Jan Suraaj Party founder Prashant Kishor has moved to an ashram on the outskirts of Patna to continue his political activities ahead of the next assembly elections. He criticised Nitish Kumar and urged voters to prioritise their own interests.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
Amid the arithmetic of subsidies, consumption and capacity, whichever government assumes office in Tamil Nadu after May 4 is likely to inherit a growing debate over how far the state can continue to expand welfare promises without placing additional strain on public finances and the power sector.
The Twelfth Finance Commission is ready with its report and has sought time from the President to submit the recommendations, its chairman C Rangarajan said on Saturday.
Former chief secretary Indu Kumar Pande, the chairman of the commission, has been left with only seven months to complete the recommendations.
The Competition Commission of India (CCI) has approved the acquisition of a stake in AI acceleration cloud provider Neysa Networks by Blackstone-backed private equity funds and other investors, following Neysa's announcement of a USD 1.2 billion capital raise.
The Ad-Hoc Committee appointed to run the Equestrian Federation of India (EFI) has informed the Delhi High Court that governance reforms and elections may take longer than initially planned. The committee cited statutory requirements under the new sports law and delays in gaining full control of the federation as reasons for the extended timeline.
India Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements.
The commission in its report, tabled in Parliament, recommended increase in share of states to 32 per cent of central tax proceeds from the current 30.5 per cent.
With the creation of the state of Telangana, additions were made to ToRs of the 14th Finance Commission to make recommendations for the newly created states after the reorganisation of Andhra Pradesh.
'The Atomic Energy Commission has approved the FDI policy and it is going in for ministerial consultations.'
After spending 31 months in Chennai's Puzhal prison, Ahmed Buhari is finally breathing free, as courts across the country quashed proceedings linked to his group company Coastal Energy.
The National Consumer Disputes Redressal Commission dismissed a flat buyer's plea for a refund from a builder facing liquidation, highlighting the challenges faced by consumers in stalled real estate projects.
Seven individuals, including senior executives from manpower firms, have been arrested in connection with alleged irregularities in overtime payments within the Chhattisgarh State Marketing Corp Ltd (CSMCL) during the previous Congress administration. The arrests follow an investigation into fraudulent billing practices and misappropriation of funds.
The Anti-Corruption Bureau/Economic Offences Wing arrested seven individuals, including executives from manpower firms, in connection with alleged irregularities in overtime payments within Chhattisgarh State Marketing Corp Ltd during the previous Congress administration.
Foreign universities are unlikely to gain major ground in India's higher education market in the near term, as students and families continue to prioritise return on investment over brand value in a highly price-sensitive sector.
The government has proposed to lower debt-to-GDP ratio to 55.6 per cent in FY27, from 56.1 per cent in the current fiscal year, Finance Minister Nirmala Sitharaman said on Sunday.
The government has proposed to lower debt-to-GDP ratio to 55.6 per cent in FY27, from 56.1 per cent in the current fiscal year, Finance Minister Nirmala Sitharaman said on Sunday.
Kanpur Police have dismantled a sophisticated cyber fraud syndicate, arresting eight individuals, including five bank officials, for facilitating mule accounts and hawala transactions worth Rs 125 crore.
The 12th Finance Commission on Monday held a meeting with leading economists and economic administrators in Chennai to elicit their views on current issues concerning inter-governmental resource transfers.\n\n\n\n
The government on Wednesday constituted the 13 Finance Commission, which would look into sharing of taxes between Union and the States, under the chairmanship of former finance secretary Vijay Kelkar.
On Agri Stack, Expenditure Secy V Vualnam says it's progressing well; using IT, farmers will be able to choose exact fertiliser quantities needed, reducing crowding at fertiliser outlets.
Punjab's Finance Minister Harpal Singh Cheema has announced that the newly enacted anti-sacrilege law in Punjab leaves no loopholes for offenders to escape justice. The law proposes stricter punishment, including life imprisonment and a fine of up to Rs 25 lakh, for any act of sacrilege against the Guru Granth Sahib.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
West Bengal Chief Minister Mamata Banerjee has accused central forces of attempting to search her car while en route to Kolkata airport, alleging misuse of central machinery by the BJP ahead of state elections.
Supreme Court Justice B V Nagarathna has emphasised the critical importance of an independent Election Commission to ensure the neutrality and integrity of the electoral process in India.
Governments should move away from universal subsidies towards tightly targeted transfers, backed by stricter eligibility norms, sunset clauses and periodic audits to curb leakages and improve spending efficiency, a joint study by Asian Development Bank and PwC has recommended.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
The Telangana government's salary structure reveals surprising figures, with senior sweepers earning up to 2 lakh and chief engineers drawing 7 lakh monthly.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
West Bengal Chief Minister Mamata Banerjee has accused central forces of searching her car and criticised the BJP for alleged election misconduct during a rally in Islampur, Uttar Dinajpur district.
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