The Centre has appointed Manoj Panda, former director of the Institute of Economic Growth, as a full time member of the Sixteenth Finance Commission. This fills up the vacancy at the finance panel, which was till now functioning with only three full time members and Chairperson Arvind Panagariya.
“The above member of the Commission shall hold office from the date of assuming office up to the date of submission of Report or 31st day of October, 2025, whichever is earlier,” said an official notification on Panda’s appointment.
Panda is an eminent economist and was previously also the RBI Chair Professor at the Institute of Economic Growth.
The Centre had constituted the 16th Finance Commission on December 31, 2023 and had subsequently appointed its members and Chairperson on January 31, 2024. Its four full time members included Ajay Narayan Jha, Annie George Mathew, Niranjan Rajadhyaksha and Soumya Kanti Ghosh.
However, Rajadhyaksha who is also Executive Director, Artha Global, expressed his inability to take up the role as member on February 19, citing unforeseen personal circumstances. “Action will be taken to appoint a Member of the 16th Commission in lieu of Dr. Rajadhyaksha,” an official release had said at the time.
The appointment of Panda means that the finance commission is now at full strength and can begin its work in earnest, which includes deliberations with economists and experts as well as visits to states and discussions with local and municipal bodies to get a comprehensive picture of their financial issues.
The 16th finance commission is expected to submits its report by October 31, 2025 for the period of five years commencing from April 1, 2026. The Commission had held its first meeting on February 14 this year.