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.
NITI Aayog has called for a fundamental overhaul of urban governance in India, advocating for empowered city governments, directly elected mayors with five-year terms, and greater financial autonomy for urban local bodies to manage the country's rapidly growing urban population.
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 Union Sports Ministry has committed a grant-in-aid of Rs 2000 crore to the Gujarat Government for hosting the 2030 Commonwealth Games in Ahmedabad. This funding, based on 2025 rates and expected to reach Rs 2500 crore by 2030, will be disbursed from the Assistance to National Sports Federations (ANSF) scheme. Ahmedabad won the bid last year to host the centenary edition, which is anticipated to be a grand event featuring 15 to 17 disciplines, unlike the scaled-down Glasgow Games.
Former chief secretary Indu Kumar Pande, the chairman of the commission, has been left with only seven months to complete the recommendations.
'Many women lose control of properties after their husband's death.'
Indian students pursuing medical degrees in Georgia face uncertainty over their eligibility to practise in India following a recent clarification by the National Medical Commission on the country's junior doctor status.
'It is very significant that she mentioned that the issue of her foreign origin was not restricted to the BJP or Sangh Parivar, but was also very much alive in her own party.'
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.
Jaypal Malviya, a 31-year-old farmer and idol-maker from Chhindwara, Madhya Pradesh, has become the first Indian shooter to secure an Olympic quota for the 2028 Los Angeles Games. His journey is remarkable, starting from a casual interest in shooting at village fairs to winning a silver medal at the ISSF World Championships in Doha with a second-hand pistol. Despite financial challenges and a lack of formal coaching, Malviya's dedication has led him to this significant achievement, though his place in the Olympic squad will depend on future trials.
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.
As CEC Gyanesh Kumar faces protests over electoral roll revisions, a 20-year-old Kerala corruption case resurfaces.
A Bangladesh opposition leader, Nahid Islam of the National Citizen Party (NCP), has issued warnings against facilitating an Indian transit corridor through Bangladesh and called for a fair renewal of the Ganges water-sharing treaty, which expires in December. His remarks were made at a rally in Dhaka, where he also criticised the current government. The allegations about the corridor follow Prime Minister Tarique Rahman's recent visit to Japan, which focused on economic cooperation and regional connectivity, though Bangladesh officials deny discussing third-country issues. India has also expressed interest in strengthening regional linkages with Japan involving its northeastern states.
Banks in a growing economy need patient, long-term foreign capital with good governance to meet credit demand. The direction is right, points out Tamal Bandyopadhyay.
It is too early to judge whether the CJP will become a consequential political movement or remain a moment of protest. Its significance will depend less on the size of crowds or the reach of online campaigns than on what follows when the initial excitement subsides, notes Manoj Mohanka.
The judges questioned the government's position on arbitration, underscoring the contradiction between its resistance to enforcement and its efforts to promote India as an arbitration-friendly jurisdiction.
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 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.
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.
A Kolkata-based lottery firm, Tiger Associates, donated Rs 260 crore to Tamil Nadu's DMK and AIADMK in 2025-26, significantly increasing its contributions from the previous financial year. The firm accounted for nearly 74% of the combined contributions reported by the two parties, highlighting a concentration of political funding. The disclosures also revealed contributions from electoral trusts and a link between Tiger Associates' partner and lottery magnate Santiago Martin, whose other firm was a major electoral bond purchaser.
Opposition leaders from CPI-M and AAP faced detention in Delhi and Chandigarh while protesting against Chief Election Commissioner Gyanesh Kumar over serious allegations of voter-list manipulation and suppression of democratic rights.
The Kerala Legislative Assembly has passed a motion urging the central government to completely withdraw the proposed Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000. Chief Minister V D Satheesan and CPI MLA K Rajan highlighted concerns that the MDR would increase business costs, harm small businesses, and reduce the appeal of digital payments, while the BJP argued it would not affect general public or small merchants.
Indian benchmark indices, Sensex and Nifty, experienced a sharp decline, with the Sensex tumbling 1,247.71 points and the Nifty settling below 23,100, primarily driven by a significant spike in crude oil prices and weak global market trends.
'My suggestion to Nandan Nilekani is that it would be worthwhile for him to take a holistic review in a manner in which examination is just one critical component.'
Chief Election Commissioner Gyanesh Kumar is facing significant scrutiny after an investigation revealed objections from his fellow election commissioners, Sukhbir Singh Sandhu and Vivek Joshi, regarding decisions made during the Special Intensive Revision of voter lists. The objections, reportedly made at least 14 times, concerned issues like changes to voter registration forms and centralised control over electoral roll databases, intensifying criticism of Kumar's tenure and the EC's impartiality.
'We see a lot of cases of bank deposits getting lost, especially when people die, so this will help address that because you have one consolidated view.'
Indian benchmark indices Sensex and Nifty experienced volatile trading, influenced by elevated crude oil prices, high US bond yields, and selling pressure in IT stocks, despite an early rebound.
The BJP spent Rs 286.99 crore on the West Bengal elections, surpassing the Congress's total expenditure of Rs 248.55 crore across five states and a Union territory. The report details spending by major parties in West Bengal, Kerala, Assam, Tamil Nadu, and Puducherry, highlighting significant financial disparities and campaign outlays.
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.
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.
A recent Central Vigilance Commission (CVC) report reveals that over 70,500 corruption complaints were lodged against various government bodies last year, with banks and the Railways accounting for the highest numbers. While a significant portion of these complaints has been disposed of, thousands remain under process, highlighting ongoing challenges in addressing corruption within public sector entities.
Panel to recommend sharing of divisible resources between states and the Centre from 2015 to 2020.
The Jammu and Kashmir High Court has rejected a petition by the Enforcement Directorate to add charges of receiving and concealing stolen property in the alleged Jammu and Kashmir Cricket Association fund scam. While the court upheld the ED's right to file such an application, it found insufficient merit in the current material to invoke sections 411 and 424 of the Ranbir Penal Code, stating that the alleged acts were part of the principal transaction of conspiracy and breach of trust.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
The Indian government has introduced a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant (P2M) transactions exceeding Rs 2,000, effective October 15. This move ends nearly six years of fully free UPI payments, though person-to-person (P2P) transfers and small P2M payments remain free. The charges aim to bolster investment in UPI infrastructure, with specific exemptions and caps for essential sectors.
Congress leader Rahul Gandhi has launched a scathing attack, calling Prime Minister Narendra Modi, Home Minister Amit Shah, and Chief Election Commissioner Gyanesh Kumar 'deshdrohis' (traitors) for allegedly 'destroying' India's voting system and 'stealing elections'.
'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.'
