New Delhi: The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the creation of three posts at the level of Joint Secretary.
Two posts of Joint Secretary and one post of Economic Adviser will be created for the 16th Finance Commission, which was constituted in pursuance of Article 280 of the Constitution vide Notification dated 31st December 2023.
The newly created posts are required to assist the Commission in carrying out its functions. All other posts in the Commission have already been created as per the delegated powers.
Earlier, the Cabinet had on November 29 approved the terms of reference for the 16th Finance Commission, which will recommend how taxes are shared between the Centre and states and also among states.
The terms of reference will include the distribution of the net proceeds of taxes between the Centre and the states and the allocation between the states of the respective shares of such proceeds, the principles, grants-in-aid and the revenues of the states and measures needed to supplement the resources of the panchayats.