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Finance Commission: Goyal tipped as Chairman of 16th FC

By IndianMandarins- 25 Apr 2023

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New Delhi (25.04.2023): Former Union Home Secretary and former Chairman of India Trade Promotion Chairman (ITPO) L C Goyal (Retd IAS:1979:KL) may be named as Chairman of 16th Finance Commission.

As per the constitution, the commission is appointed every five years and consists of a chairman and four other members. The most recent Finance Commission (15th FC) was constituted in 2017 and was chaired by former member of the Planning Commission N K Singh.

The Finance Commissions (Vitta Āyoga) are commissions periodically and constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between Centre and States. The First FC was established in 1951 under The Finance Commission (Miscellaneous Provisions) Act, 1951.

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