New Delhi, June 7 (H.S): President of India has appointed T Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), as a part-time member of the 16th Finance Commission (XVIFC). His tenure will last from the date he takes office until the report submission or October 31, 2025, whichever is earlier. This appointment follows the resignation of Ajay Narayan Jha from the commission due to personal reasons.
The XVIFC, headed by Arvind Panagariya, was constituted on December 31, 2023, and is expected to present recommendations by October 31, 2025, for implementation from April 1, 2026. The Finance Commission, a constitutional body, advises on centre-state relations. The previous 15th Finance Commission, led by NK Singh, recommended a 41% share of the divisible tax pool for states from 2021-22 to 2025-26, consistent with the 14th Commission under YV Reddy.
Recently, T Rabi Sankar was re-appointed as RBI Deputy Governor for a second term starting May 3, 2024.
Hindusthan Samachar / Jun Sarkar
