New Delhi, Feb. 15 -- The 16th Finance Commission (XVI-FC) held its first meeting under the Chairmanship of Dr. Arvind Panagariya in Jawahar Vyapar Bhawan, Janpath, New Delhi. The Chairman and Members were welcomed by Secretary, XVI-FC, Ritvik Ranjanam Pandey and other officials of the Finance Commission.

In a statement, the Ministry of Finance said that the XVI-FC discussed its Terms of Reference, as per the order made by the President of India and notified by the Ministry of Finance vide Notification S.O. 5533(E), dated 31st December, 2023. The XVI-FC acknowledged the need for wide ranging consultations with various stakeholders, including State Governments, Local Bodies, Ministries of Government of India, and experts. The XVI-FC recog...