Is T Rabi Sankar the New Part-Time Member of the 16th Finance Commission?
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Synopsis
In a significant move, T Rabi Sankar, the Deputy Governor of RBI, has joined the 16th Finance Commission as a part-time member. This new role comes at a pivotal time as the commission prepares to provide essential economic recommendations for the upcoming years.
Key Takeaways
- T Rabi Sankar appointed as part-time member of the 16th Finance Commission.
- The commission is chaired by Dr Arvind Panagariya.
- Report submission deadline is October 31, 2025.
- Current members include retired bureaucrat and economist.
- The commission will focus on fiscal recommendations for the next five years.
New Delhi, June 7 (NationPress) The Deputy Governor of the Reserve Bank of India (RBI), T Rabi Sankar, has officially been appointed as a part-time member of the 16th Finance Commission, chaired by Dr Arvind Panagariya, as announced on Saturday.
According to a statement from the Finance Ministry, “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).”
“He will serve from the date he takes charge until the submission of the Commission's Report or until October 31, 2025, whichever comes first,” the minister added.
This appointment follows the resignation of Ajay Narayan Jha, a full-time member of the XVIFC, due to personal reasons.
The XVIFC was formed on December 31, 2023, with Dr Panagariya, who previously served as the Vice-Chairman of NITI Aayog, leading the commission.
Dr Panagariya held the position of the first Vice Chairman of NITI Aayog from January 2015 to August 2017, equivalent to a Cabinet Minister. During this time, he acted as India’s G20 Sherpa, negotiating on behalf of India during the G20 summits in Turkey (2015), China (2016), and Germany (2017).
He is also recognized as a former Chief Economist of the Asian Development Bank and was a faculty member at the University of Maryland's Department of Economics from 1978 to 2003.
The commission, led by Panagariya, consists of four members and is supported by Secretary Ritvik Pandey, two joint secretaries, and one economic advisor.
The XVIFC is tasked with delivering its recommendations by October 31, 2025, covering a five-year period beginning April 1, 2026.
Current full-time members of the commission include retired bureaucrat Annie George Mathew and economist Manoj Panda, while SBI Group Chief Economic Advisor, Soumya Kanti Ghosh, serves as a part-time member.
Point of View
The appointment of T Rabi Sankar as a part-time member of the 16th Finance Commission is a strategic decision aimed at enhancing the commission's expertise. His extensive experience in the RBI and previous roles in economic negotiations will be invaluable as the commission formulates its recommendations.
NationPress
07/06/2025
Frequently Asked Questions
Who is T Rabi Sankar?
T Rabi Sankar is the Deputy Governor of the Reserve Bank of India (RBI) and has recently been appointed as a part-time member of the 16th Finance Commission.
What is the role of the 16th Finance Commission?
The 16th Finance Commission is responsible for making recommendations on the distribution of tax revenues between the central government and the states, as well as addressing the financial needs for the upcoming five years.
When will the 16th Finance Commission submit its report?
The commission is mandated to submit its report by October 31, 2025.
