NewKerala.com

Key Points

The Reserve Bank of India's Deputy Governor, T Rabi Sankar, has been appointed as a part-time member of the 16th Finance Commission. The commission, led by Dr Arvind Panagariya, is tasked with providing recommendations for a five-year period starting April 2026. Sankar's appointment comes after the resignation of a full-time member, Ajay Narayan Jha. The commission is expected to submit its report by October 2025, bringing critical insights into India's financial planning.

Key Points: RBI's Ravi Sankar Joins Panagariya Finance Commission

  • RBI Deputy Governor joins 16th Finance Commission under Dr Arvind Panagariya
  • Commission mandated to submit recommendations by October 2025
  • Replacement for resigned member Ajay Narayan Jha
  • Covers five-year award period starting April 2026
2 min read

T Rabi Sankar appointed as part-time member of 16th Finance Commission

RBI Deputy Governor T Rabi Sankar appointed as part-time member of 16th Finance Commission, replacing Ajay Narayan Jha

"The President has appointed T. Rabi Sankar... as a part-time Member - Finance Ministry Statement"

New Delhi, June 7

The Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar has been appointed as a part-time member of the Dr Arvind Panagariya-headed 16th Finance Commission, it was announced on Saturday.

“The President has appointed T. Rabi Sankar, Deputy Governor, Reserve Bank of India (RBI), as a part-time Member of the 16th Finance Commission (XVIFC),” the Finance Ministry said in a statement.

“He will hold office from the date of assuming charge until the submission of the Commission's Report or 31st October, 2025, whichever is earlier,” the minister informed.

The appointment of Sankar is consequent to the resignation of one of the full-time Members of the XVIFC, Ajay Narayan Jha, on personal grounds.

The XVIFC was constituted on 31st December, 2023, with Dr Panagariya, former Vice-Chairman of NITI Aayog, as its chairman.

From January 2015 to August 2017, he served as the first Vice Chairman of the NITI Aayog, Government of India in the rank of a Cabinet Minister. During these years, he also served as India’s G20 Sherpa and led the Indian teams that negotiated the G20 Communiqués during presidencies of Turkey (2015), China (2016) and Germany (2017).

Professor Panagariya is a former Chief Economist of the Asian Development Bank, and was on the faculty of the Department of Economics at the University of Maryland at College Park from 1978 to 2003.

The commission, chaired by Panagariya, has four members and is assisted by Secretary Ritvik Pandey, two joint secretaries and one economic advisor.

The XVIFC is mandated to submit its recommendations by 31st October, 2025, for the award period of five years commencing from 1st April, 2026.

Retired bureaucrat Annie George Mathew and economist Manoj Panda are full-time members of the commission, while SBI Group Chief Economic Advisor, Soumya Kanti Ghosh, is a part-time member.

- IANS

Share this article:

Reader Comments

P
Priya M.
Good to see experienced professionals being appointed to the Finance Commission. Hope they focus on equitable distribution of resources to states, especially the smaller ones in Northeast. 🤞
R
Rahul K.
With RBI's Sankar joining, we can expect strong monetary policy perspective in commission's recommendations. But why part-time? Finance Commission needs full attention of all members given its importance.
A
Anjali S.
Panagariya ji has excellent credentials! His work at NITI Aayog was commendable. Hope this commission focuses on fiscal discipline while ensuring growth-oriented policies. Jai Hind! 🇮🇳
S
Sanjay P.
The real test will be how they balance center-state finances. Southern states already feel they're subsidizing others. Need fair formula this time. #CooperativeFederalism
N
Neha T.
Hope they consider special provisions for border states like J&K, Arunachal etc. These areas need extra funds for infrastructure and security given their strategic importance.
V
Vikram R.
Good team overall, but would have liked to see more representation from private sector economists too. Government babus and RBI officials dominate the panel. Balance is important.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50