| TAMIL NADU GOVERNMENT GAZETTE PUBLISHED BY AUTHORITY | ||
No. 4] CHENNAI, WEDNESDAY, JANUARY 24, 2024 Thai 10, Sobakiruthu, Thiruvalluvar Aandu–2055
Part II—Section 1
Notifications or Orders of specific character or of particular interest to the
public issued by Secretariat Departments.
NOTIFICATIONS BY GOVERNMENT
CONTENTS Pages.
FINANCE DEPARTMENT
Constitution of Sixteenth Finance Commission
26 26 TAMIL NADU GOVERNMENT GAZETTE [Part II—Sec. 1
NOTIFICATIONS BY GOVERNMENT
FINANCE DEPARTMENT
Constitution of Sixteenth Finance Commission
[G.O. Ms. No. 16, Finance (Finance Commission - I), 9th January 2024.]
No. II(1)/FIN/3/2024.—The following Order of the Government of India, Ministry of Finance Department of Economic Affairs, New Delhi, dated 31st December 2023 is republished:-
In pursuance of clause (1) of article 280 of the Constitution read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 (33 of 1951), the President is pleased to constitute a Finance Commission with Dr. Arvind Panagariya, former Vice-Chairman, NITI Aayog and Professor, Columbia University, as the Chairman.
Members of the Commission will be notified separately.
2. Shri Ritvik Ranjanam Pandey shall be the Secretary to the Commission.
3. The Chairman and other members of the Commission shall hold office from the date on which they respectively assume office up to the date of submission of Report or 31st day of October, 2025, whichever is earlier.
4. The Commission shall make recommendations as to the following matters, namely:-
(i) The distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under Chapter I, Part XII of the Constitution and the allocation between the States of the respective shares of such proceeds;
(ii) The principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States by way of grants-in-aid of their revenues under Article 275 of the Constitution for the purposes other than those specified in the provisos to clause (1) of that article; and (iii) The measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.
The Commission may review the present arrangements on financing Disaster Management initiatives, with reference to the funds constituted under the Disaster Management Act, 2005 (53 of 2005), and make appropriate recommendations thereon.
5. The Commission shall make its report available by 31st day of October, 2025 covering a period of five years commencing on the 1st day of April, 2026.
[Order No. 10(2)-B(S)/2022] New Delhi, Dated the 31st December, 2023.
Droupadi Murmu, President of India.
T. UDHAYACHANDRAN,