The Indian Constitution in Article 280 states that the President of India will establish a Finance Commission with a total of 5 members. Moreover, the five members would include the Chairperson and four other members. These 5 members have been given the responsibility to deliberate upon the financial relations between the States and the Central Government of India. Read on to learn in detail about the 5 Members of the Finance Commission in 2024 as well as the Qualifications and Disqualifications of the members!
Who are the Members of the 16th Finance Commission?
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In 2024, the members are as follows:
5 members of the 16th Finance Commission of India in 2024 | |
Name of the Member | Designation of the Member |
Arvind Panagariya | Chairman of the 16th Finance Commission |
Annie George Mathew | Member of the 16th Finance Commission |
Ajay Narayan Jha | Member of the 16th Finance Commission |
Soumya Kanti Ghosh | Member of the 16th Finance Commission |
Niranjan Rajadhyaksha | Part-time Member |
What are the Qualifications of the Members?
A person with experience in different aspects of public affairs is chosen as the Chairman of the Commission. Moreover, the other members are chosen based upon:
- If they have been or are or are qualified to be a High Court Judge.
- They know about Government Accounts or Finances.
- They have experience in financial expertise or administration.
- They are knowledgeable about economics.
Also Read: Devolution of Powers and Finances up to Local Levels
How does a Member get Disqualified from the Commission?
Furthermore, the disqualification of a member is based upon these factors:
- If they are found to be mentally unsound.
- An undischarged insolvent.
- Moreover, if they have been convicted of an immoral offence.
- If their financial and other interests create a problem for the smooth functioning of the Finance Commission.
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