16th Finance Commission submits 2026-31 report to President Murmu

The 16th Finance Commission Chairman, Arvind Panagariya, on Monday submitted recommendations for the 2026-31 period to President Droupadi Murmu. The panel's report will provide a formula for the devolution of taxes between the Centre and the states. Recommendations include allocating the States' respective shares of proceeds and reviewing arrangements for financing disaster management initiatives.