Panagariya has worked in various capacities with the World Bank, IMF, and the United Nations Conference on Trade and Development.
Arvind Panagariya has been appointed as the chairman of the 16th Finance Commission. The commission will submit its report for the five-year period (2026-27 to 2030-31) to the President by October 31, 2025. The Union Cabinet last month approved the Terms of Reference (ToR) of the 16th Finance Commission.
Who is Who is Arvind Panagariya?
He is an Indian-American economist who served as the first vice chairman of NITI Aayog. He is currently a Professor of Indian political economy at the Columbia University, US. He was awarded the Padma Bhushan in 2012 for his contributions in the field of economics and Public Policy. The 71-year-old is also former chief economist of the Asian Development Bank (ADB). Panagariya has worked in various capacities with the World Bank, International Monetary Fund (IMF), and the United Nations Conference on Trade and Development.
Panagariya holds a Ph.D. in economics from Princeton University. He has served as a member of the International Advisory Board, SEBI. He is married to Amita and has two sons -- Ananth Hirsh (a comic book author) and Ajay (a technologist and entrepreneur). His brother, Dr Ashok Panagariya, is a noted neurologist and medical researcher.
Finance Commission
The Finance Commission (under Article 280) is a constitutional body that suggests centre-state financial relations. Besides, the commission would review the present arrangements for financing disaster management initiatives regarding the funds constituted under the Disaster Management Act, 2005.
The erstwhile 15th Finance Commission under NK Singh had recommended that states be given 41 per cent of the divisible tax pool of the Centre during the five-year period 2021 22 to 2025 26, which is at the same level as was recommended by the 14th Finance Commission.
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 "Who is Arvind Panagariya, ex-NITI Aayog VC, appointed chairman of 16th Finance Commission?")
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