New Delhi, Nov. 12 -- As India redraws its fiscal roadmap for the next five years, all eyes are on the 16th Finance Commission. Tasked with determining how the Centre's tax revenues will be shared with states until FY31, the Commission's recommendations will shape the fiscal lifeline of every state, governing their ability to spend on welfare, infrastructure, and growth.

The Union government has granted the panel a one-month extension, shifting its deadline to 30 November 2025, following extended consultations with states and stakeholders. The Commission, led by economist Arvind Panagariya, which completed its round of state visits in June, is reviewing detailed memorandum submitted by states and departments to inform its final report fo...