The Sixteenth Finance Commission, chaired by Arvind Panagariya, has established a five-member Advisory Council to enhance the Commission’s scope and effectiveness. This move was announced on Tuesday.

The newly formed panel will be led by Poonam Gupta, the Director General of the National Council of Applied Economic Research (NCAER). The council includes four other distinguished members: DK Srivastava, Neelkanth Mishra, Pranjul Bhandari, and Rahul Bajoria.

The Finance Commission, responsible for defining the financial relations between the central government and individual states, aims to leverage the expertise of the Advisory Council to address broader economic challenges and provide more comprehensive recommendations.

An official statement emphasized that this council will play a crucial role in advising the Commission on various economic and fiscal matters, ensuring that their recommendations are well-informed and impactful.