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- Union Cabinet approved three Joint secretary-level posts for the Finance Commission.
- Two posts of Joint Secretary and one post of Economic Adviser have been created by the government for the 16th Finance Commission.
- Arvind Panagariya has been appointed as the Chairman of the 16th Finance Commission. Ritwik R Pandey will be the Secretary to the commission.
- The Finance Ministry has invited applications for the appointment of various officers and employees to the commission.
- The 16th Finance Commission will submit its report by October 31, 2025.
- It will suggest tax devolution between the Centre and States and revenue augmentation measures for five years commencing April 1, 2026.
- The Finance Commission is a constitutional body to give suggestions on Centre-State financial relations.
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