Union Cabinet approves Terms of Reference for 16th Finance Commission
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India, Nov. 29 -- The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Terms of Reference for the Sixteenth Finance Commission.
"The Terms of Reference for the Sixteenth Finance Commission will be notified in due course of time. The 16th Finance Commission's recommendations, upon the acceptance by the government, would cover the period of five (5) years commencing April 1, 2026," read a government statement.
The Fifteenth Finance Commission was constituted on November 27, 2017.
It made recommendations covering the period of six years commencing on 1st April, 2020 through its Interim and Final Reports.
The recommendations of the Fifteenth Finance Commission are valid upto the financial year 2025-26.
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