The Prime Minister Narendra Modi  met a delegation of the 16th Finance Commission (XVIFC) members led by the Chairman of the Commission, Dr Arvind Panagariya. 

The commission presented a copy of its report covering a period of five years commencing on the 1st day of April, 2026 making recommendations on the distribution of the net proceeds of taxes between the Union and the States as well as the allocation between the States of the respective shares of such proceeds, grants-in-aid to States, review arrangements on financing Disaster Management initiatives, and others.

“Met a delegation of the 16th Finance Commission members led by Arvind Panagariya, the Chairman of the Commission,” the Prime Minister wrote on X

Earlier, the XVIFC members submitted their Report to the President Droupadi Murmu. The commission also presented a copy of the report to Union Finance Minister Nirmala Sitharaman.

During its tenure, the XVIFC analysed the finances of the Union and States in detail and has come up with a report after wide-ranging consultations with the Union Government, State Governments, Local Governments at different tiers, Chairpersons and Members of previous Finance Commissions, academic institutions of eminence, multi-lateral institutions, Advisory Council to the Commission, and other domain experts.

“The report shall be available in the public domain once it is tabled in the Parliament by the Union Finance Minister under Article 281,” an official statement said.

The commission (XVIFC) was constituted by the President of India and headed by Chairman Dr Arvind Panagariya.

Members of the XVIFC were Annie George Mathew, Dr Manoj Panda, T. Rabi Sankar and Dr Soumyakanti Ghosh, and the Secretary to the XVIFC, Ritvik Pandey, accompanied the Chairman.