1. Which of the following statements related to the 16th Finance Commission is/are true?
A. It was constituted in December, 2023 with Arvind Panagariya as its Chairman
B. Ajay Narayan Jha was appointed as the secretary of the 16th Finance Commission
C. The recommendations of the 16th Finance Commission cover a period of 5 years from April 2025 to March 2030
Choose the correct answer:
(1) A, B and C
(2) A only
(3) B only
(4) A and C only
Answer: 2
The Sixteenth Finance Commission has been requested to make its recommendations available by October, 31, 2025, covering an award period of 5 years commencing 1 st April, 2026. The Sixteenth Finance Commission was constituted on 31.12.2023 with Shri Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman.
He was appointed as the member of Fifteenth Finance Commission of India in place of Shaktikanta Das and served there till 26 November 2023. Thereafter, he was appointed as a member of Sixteenth Finance Commission on 1 January 2024.
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