The 16th Finance Commission on Wednesday invited suggestions and views from the general public, interested organisations and individuals on the terms of reference for the commission.
It also asked for the views on the general approach that the Sixteenth Finance Commission may adopt, as well as, on any other issue relevant to its work.
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The Commission has been constituted in pursuance of the provisions of the Constitution of India by the President with Dr Arvind Panagariya as its Chairman.
It is required to make recommendations covering a period of five years commencing on April 1, 2026 as to the matters related to distribution between the Union and the States of the net proceeds of taxes.
The commission also need to recommend on the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States by way of grants-in-aid of their revenues.
Also, the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.
Suggestions may be submitted through the website of the 16th Finance Commission https://fincomindia.nic.in/portal/feedback) under the section ‘Call for Suggestions’.
