RBI Deputy Governor T Rabi Sankar Joins 16th Finance Commission as Part-Time Member
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T Rabi Sankar, who is currently serving as the Deputy Governor of the Reserve Bank of India (RBI), has been appointed as a part-time member of the 16th Finance Commission (XVIFC). His appointment has been officially approved by the President of India.
Appointment Details and Tenure
According to the Ministry of Finance, T Rabi Sankar will serve in this role from the date he takes charge until the Commission submits its report or till 31st October 2025, whichever comes first.
This appointment comes after the resignation of Ajay Narayan Jha, a full-time member of the commission and former Finance Secretary, who stepped down due to personal reasons.
Structure of the 16th Finance Commission
The 16th Finance Commission was formed on December 31, 2023. It is chaired by Arvind Panagariya, the former Vice-Chairman of NITI Aayog. The commission has a total of four members, including T Rabi Sankar, and is supported by:
- Secretary Ritvik Pandey
- Two Joint Secretaries
- One Economic Advisor
The Commission is expected to submit its recommendations by October 31, 2025, and those recommendations will be implemented for the five-year period starting from April 1, 2026.
What Does the Finance Commission Do?
The Finance Commission is a constitutional body set up under Article 280 of the Indian Constitution. Its main role is to suggest how the central government should share its tax revenues with the state governments. The Commission also makes recommendations on financial matters to promote a fair balance between the Centre and the States.
