Centre sets ToR for 16th Finance Commission
Hindustan Times|November 30, 2023
The government on Wednesday announced the terms of reference (ToR) for the 16th Finance Commission (16th FC) for recommending a devolution formula for tax revenues between the Centre and states, and also suggest measures to augment states' resources for local bodies besides reviewing the existing arrangements for financing disaster management initiatives.
Centre sets ToR for 16th Finance Commission

Announcing the decision, information and broadcasting minister Anurag Singh Thakur said the ToR for the 16th Finance Commission were approved by the Cabinet on late Tuesday night. "The commission shall make its report available by 31st day of October, 2025 covering a period of five years commencing on the 1st day of April, 2026," he said.

The government will soon appoint a chairman and members of the commission, he added. The Finance Commission normally takes about two years to make its recommendations.

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