♦ The 16th Finance Commission, chaired by economist Arvind Panagariya, has submitted its report to the President of India Droupadi Murmu on 17 November 2025.  The commission submitted its report for 2026-2031. 

♦ The 16th FC’s recommendations would apply for a period of five years beginning on April 1, 2026.

♦ The Sixteenth Finance Commission (XVIFC) was constituted by the President in pursuance of clause (1) of Article 280 of the Constitution. Ministry of Finance said that during its tenure, the XVIFC analyzed the finances of the Union and States in detail and has come up with a report after wide-ranging consultations with the Union Government, State Governments, Local Governments at different tiers, and other domain experts. The Ministry informed that the report will be available in the public domain once it is tabled in the Parliament by the Union Finance Minister under Article 281 of the Constitution of India.