The President has appointed Reserve Bank of India's (RBI) Deputy Governor, T Rabi Sankar, as a part-time Member of the 16th Finance Commission (XVIFC).
He shall hold office from the date of assuming charge until the submission of the Commission's Report or 31st October, 2025, whichever is earlier, according to a statement by the Ministry of Finance.
The appointment, the ministry said, is consequent to the resignation of one of the full-time members, former finance secretary Ajay Narayan Jha, on personal grounds.
The commission, chaired by former vice chairman of Niti Aayog Arvind Panagariya, has four members and is assisted by Secretary Ritvik Pandey, two joint secretaries and one economic advisor.
The XVIFC was constituted on December 31, 2023. The XVIFC is mandated to submit its recommendations by October 31, 2025, for the award period of five years commencing from April 1, 2026.
The Finance Commission is a constitutional body to provide suggestions on centre-state financial relations.
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