New Delhi, Nov. 18 -- The Sixteenth Finance Commission (XVIFC) has submitted its report for the distribution of net proceeds of taxes between Centre and States for award period 2026-27 to 2030-31 to President Droupadi Murmu.

The Commission's Chairman Arvind Panagariya, along with Members Annie George Mathew, Manoj Panda, T. Rabi Sankar, Soumyakanti Ghosh and Secretary Ritvik Pandey, met the President on Monday to formally hand over the report.

Later in the day, the Commission also presented a copy of the report to the Prime Minister and to the Union Finance Minister.

The report submitted to the President includes key recommendations on the distribution of the net proceeds of taxes between the Union and the States, the allocation of sha...