India, Nov. 17 -- The Government of India has issued a release:
The Sixteenth Finance Commission (XVIFC) was constituted by the Hon'ble President of India in pursuance of clause (1) of article 280 of the Constitution. The XVIFC, headed by Chairman Dr. Arvind Panagariya, submitted its Report today to the Hon'ble President of India. Members of the XVIFC, Smt. Annie George Mathew, Dr. Manoj Panda, Shri T. Rabi Sankar and Dr. Soumyakanti Ghosh and the Secretary to the XVIFC Shri Ritvik Pandey accompanied the Chairman. Thereafter, the XVIFC also presented a copy of the report to the Prime Minister and to the Union Finance Minister today.
As per the terms of reference (ToR), the XVIFC was mandated to give its report covering a period of five ye...