Indian government appoints members for new finance panel

(Reuters) - The Indian government on Tuesday appointed four members of the new Finance Commission that will recommend how federal taxes will be shared with states.

According to a government order issued late Tuesday, three full-time members of the 16th Finance Commission include former Expenditure Secretary Ajay Narayan Jha; former Department of Expenditure official Annie George Mathew; and Niranjan Rajadhyaksha, executive director of policy consultancy firm, Artha Global.

Soumya Kanti Ghosh, group chief economic adviser at State Bank of India, has been named as a part-time member, according to the government order.

The Indian government sets up a Finance Commission every five years to suggest the formula for sharing of taxes between the federal and state governments and make recommendations on public finances.

Last month, the government had appointed economist Arvind Panagariya the chair of the new Finance Commission.

The panel will submit its report by Oct. 31, 2025 covering a period of five years commencing on April 1, 2026.

(Reporting by Nikunj Ohri; Editing by Lisa Shumaker)