Finance Commission expected to be constituted by November end: Finance secretary
The Hindu
The 16th Finance Commission is expected to be constituted by end of November
The government is expected to constitute the 16th Finance Commission by end of November, Finance Secretary T V Somanathan said.
Finance Commission is a constitutional body that gives suggestions on Centre-State financial relations.
It suggests, among other things, the ratio in which tax is to be divided between the Centre and States for five years, beginning April 1, 2026.
"The Finance Commission is expected to be constituted by end of November because that's the statutory requirement," he told PTI in an interview.
Terms of Reference (ToR) for the Commission is being finalised, he said.
The previous Finance Commission submitted its report on November 9, 2020, for the 5 fiscals — 2021-22 to 2025-26 — to the President.
The 15th Commission under N.K. Singh had kept the tax devolution ratio at 42% — at the same level suggested by the 14th Commission.
According to recent Foreign Trade Performance Analysis data, India’s overall exports remained resilient in late 2025, even as traditional sectors faced sharp declines. While shipments of gems and jewellery to the U.S. plummeted, the overall figures were bolstered by a massive 237% surge in telecom exports, particularly smartphones. Data shows that Indian exporters are aggressively diversifying their portfolios. By deepening ties with existing partners and discovering new alliances, India is replacing lost U.S. sales with a more diversified set of trade partners
Agnivesh Agarwal, son of billionaire Anil Agarwal, dies at 49 after a skiing accident and subsequent cardiac arrest.
Infosys partners with AWS to enhance generative AI adoption, transforming operations and innovation across multiple industries.
India requests fare data from airlines amid IndiGo's antitrust investigation following widespread flight cancellations and disruptions.
Despite severe air pollution, Delhi remains the top choice for high-value homebuyers, including HNIs and celebrities.
Centre invites public feedback on the draft Pesticides Management Bill, 2025, aiming to replace the 1968 Insecticides Act.
India's wind energy capacity reached 54.51 GW in 2025, marking an 85.4% increase from the previous year.
The government forecasts a 7.4% GDP growth for 2025-26, highlighting sector-specific trends and anticipated slowdowns in the second half.
The government forecasts a 7.4% GDP growth for 2025-26, highlighting sector-specific trends and anticipated slowdowns in the second half.
Stock markets fall for third consecutive day amid geopolitical tensions and tariff hike concerns, despite gains from select tech stocks.
The rupee appreciated 31 paise to close at 89.87 against the U.S. dollar, influenced by RBI intervention and falling oil prices.
Eternal receives ₹3.7 crore GST demand order, including interest and penalty, plans to appeal the decision.
India must enhance silver processing and diversify imports to reduce dependence on finished silver, says GTRI.