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.
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.
The Pakistan Cricket Board has filed a petition in the Islamabad High Court against the Pakistan Information Commission's directive to disclose its confidential financial records, player contracts, and employee salary details. The PCB argues that such disclosure would harm its commercial interests and contractual negotiations, as it operates in a competitive international environment and does not receive government funding.
As of December 2025, India had 880 Fast-Track Courts with 1.39 million pending cases, despite disposing of 1.33 million cases during the year.
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.
'The prohibition regime has been accompanied by concerns regarding the expansion of the illicit liquor trade, increased enforcement challenges and corruption, and the growing use of alternative intoxicants, including illicit drugs.'
Former chief secretary Indu Kumar Pande, the chairman of the commission, has been left with only seven months to complete the recommendations.
Eighteen of India's 28 states exceeded the fiscal deficit ceiling of 3 per cent of GSDP in FY25, a deterioration comparable to the Covid year of 2020-21, according to the Comptroller and Auditor General (CAG). The report also noted a decline in states reporting a revenue surplus, with Bihar, Mizoram, and Telangana moving into deficit.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
The US push for clearer crypto rules is putting pressure on India to fill its own regulatory gap for virtual digital assets.
The Jharkhand government has cancelled 44 recruitment examinations conducted by the state Public Service Commission (JPSC) and an outsourced agency since 2014, including the JSSC Combined Graduate Level (CGL) examination, following a 25-day student agitation over alleged irregularities. This decision has led to protests from around 2,000 candidates who had already been appointed to various state government departments after clearing the JSSC-CGL exam.
Students protesting against alleged irregularities in Jharkhand's recruitment exams announced burning the effigies of Chief Minister Hemant Soren and Rahul Gandhi in all districts on Sunday, accusing the Jharkhand Mukti Morcha-Congress alliance of "failing to take concrete action" on their demands.
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.
The overhaul comes after a series of controversies surrounding the conduct of examinations administered by NTA, which has faced questions over examination security and its handling of irregularities.
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.
Tata Sons has the balance sheet to support them, for now.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
The Supreme Court will hear petitions on August 17 seeking a court-monitored SIT probe into alleged embezzlement of donations at the Ram temple in Ayodhya, after deferring the original hearing due to the Solicitor General's UN engagement.
Public-sector banks (PSBs) have reported a substantial increase in non-interest income for Q1FY27, primarily driven by the sale of Priority Sector Lending Certificates (PSLCs) backed by their rapidly expanding gold loan portfolios. This strategy has allowed several lenders to book significant profits by exceeding priority sector lending targets.
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 Supreme Court has provided significant relief to Congress leader Rahul Gandhi by directing the Allahabad High Court to cease proceedings in a case alleging disproportionate assets against him. The apex court also instructed the CBI and ED not to submit any reports based on the high court's previous directives.
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.
The Supreme Court on Monday asked the Uttar Pradesh government to apprise it about the possibility of setting up an SIT to probe the alleged embezzlement of donations at the Ram temple in Ayodhya and cautioned the litigants not to politicise the issue.
A US federal judge has permanently dismissed the criminal securities-fraud case against Adani Group chairman Gautam Adani and his nephew Sagar, closing nearly two years of prosecution without a trial. Gautam Adani stated, "Truth has prevailed," in response to the ruling.
The Supreme Court on Monday took note of setting up of a four-member SIT headed by IGP Kiran S to probe alleged embezzlement of donations at the Ram temple in Ayodhya and asked the Uttar Pradesh government to also include a forensic auditor in the probe team.
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 Supreme Court has directed the Uttar Pradesh government's Special Investigation Team (SIT) to submit a status report on the alleged embezzlement of donation money at the Ram temple in Ayodhya. The court also issued notice to the Shri Ram Janmabhoomi Teerth Kshetra Trust following pleas for a fair and time-bound probe, including demands for a CBI investigation and a CAG audit of the temple trust's finances.
Larsen & Toubro (L&T) reported a 14 per cent year-on-year increase in Q1 FY27 profit attributable to owners, reaching Rs 3,926 crore, surpassing analyst estimates, despite facing significant supply-chain disruptions in West Asia.
Manipal Health Enterprises is set to launch India's largest healthcare initial public offering (IPO) on July 29, aiming to raise Rs 9,275.22 crore to fund expansion and debt reduction, with the issue closing on July 31.
The focus is now on accelerating PSP development through faster approvals, better-quality detailed project reports (DPRs), simplified clearances, and early excavation permissions. Speaking at a recent event, Prasad said hydropower and PSPs would be central to supporting India's renewable energy expansion by providing the reliable and flexible capacity needed to balance rising solar and wind generation. "A huge amount of variability is getting introduced into the grid.
The Supreme Court is set to hear a batch of petitions on July 13 seeking a fair and time-bound probe into the alleged embezzlement of donations at the Ram temple in Ayodhya, with petitioners requesting a CBI investigation and a CAG audit of the temple trust's finances.
Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
A Congress spokesperson, quoted in media reports, summed up the party's thinking by saying, 'Whenever BJP is in trouble on the ground, a new 'apolitical' or 'alternative' party appears with the same ideology and the same backers.'
It is because dealing with a regulatory system that is largely headed by retired IAS officers then becomes relatively easy, points out A K Bhattacharya.
Panel to recommend sharing of divisible resources between states and the Centre from 2015 to 2020.
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.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
Senior Trinamool Congress leader Chandrima Bhattacharya has resigned as the party's West Bengal president and from all other posts, citing a loss of trust after an admonishment from Mamata Banerjee. She has since been seen meeting with the Ritabrata Banerjee-led rebel faction, further deepening the organisational crisis within the TMC following its recent Assembly election defeat.
