How many Members are in the Finance Commission of India?

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How many Members in the Finance Commission of India

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?

In 2024, the members are as follows: 

5 members of the 16th Finance Commission of India in 2024
Name of the MemberDesignation of the Member
Arvind PanagariyaChairman of the 16th Finance Commission
Annie George MathewMember of the 16th Finance Commission
Ajay Narayan JhaMember of the 16th Finance Commission
Soumya Kanti GhoshMember of the 16th Finance Commission
Niranjan RajadhyakshaPart-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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