RBI Deputy Takes Spotlight in 16th Finance Commission
RBI Deputy Governor T Rabi Sankar has been appointed as a part-time member of the 16th Finance Commission, filling a vacancy left by Ajay Narayan Jha. Under Chairman Arvind Panagariya, the Commission aims to finalize financial recommendations by October 31, 2025. The panel advises on centre-state fiscal relations.
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- India
The Reserve Bank of India's Deputy Governor, T Rabi Sankar, has joined the 16th Finance Commission as a part-time member. This appointment replaces the outgoing Ajay Narayan Jha, who resigned for personal reasons, the finance ministry announced on Saturday.
Sankar's role begins upon his assumption of office and continues until the Commission submits its report or until October 31, 2025. Led by former Niti Aayog vice chairman Arvind Panagariya, the Commission will deliver financial guidance for five years beginning in April 2026.
The 16th Finance Commission will assess tax distribution between central and state governments and examine efforts for boosting revenues. Additionally, it will re-evaluate the funding strategies for disaster management. The commission follows the legacy of past bodies in shaping centre-state financial dynamics.
(With inputs from agencies.)
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