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Finance Minister Nirmala Sitharaman met with the Chairman of the 16th Finance Commission, Arvind Panagariya, to discuss the terms of reference. The commission, chaired by Panagariya, will be assisted by several members in its functioning and is set to submit its report to the President by October 2025. The commission will review financing arrangements for disaster management and suggest tax devolution between the Centre and states.

Ajay narayan jhaAayog panagariyaShri apanagariyaSoumya kanti ghoshAnnie george mathewRitvik ranjanam pandeyNiranjan rajadhyakshaArvind panagariyaFinance minister nirmala sitharamanFinance commission chairman arvindChief economic advisor soumya kanti ghoshFinance commissionNiti aayog panagariyaSecretary ritvik ranjanam pandeyDisaster management actNirmala sitharaman