The President has appointed Shri T. Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), as a part-time member of the 16th Finance Commission (XVIFC).
His tenure will extend until the submission of the Commission’s report or October 31, 2025, whichever comes first.
The appointment follows the resignation of Shri Ajay Narayan Jha, one of the full-time members of the Finance Commission, on personal grounds. Jha had been serving on the Commission since its formation on December 31, 2023.
Headed by Dr. Arvind Panagariya, former Vice-Chairman of NITI Aayog, the XVIFC is tasked with recommending financial devolution for the award period spanning five years, beginning on April 1, 2026. The Commission is expected to submit its final report by October 31, 2025.
Experts believe Rabi Sankar’s inclusion could bring valuable insights from his tenure at RBI, potentially influencing fiscal policy deliberations. His extensive experience in financial markets, payment systems, and economic policies may contribute to shaping India’s financial framework.
For further details, visit the official notification released by the Ministry of Finance.
