Consider the following statements with reference to the 16th Finance Commission:
I. The Commission was constituted on 31st December, 2024.
II. Shri Arvind Panagariya is its Chairman.
Which of the above statements is/are correct?
(a) Neither I nor II
(b) Only II
(c) Both I and II
(d) Only I
Answer: b
The Sixteenth Finance Commission (16th FC) was constituted on December 31, 2023, not December 31, 2024. The commission’s chairman is Dr. Arvind Panagariya