NITI Aayog Arvind Panagariya

The government has extended the tenure of the 16th Finance Commission by one month till November 30. The 16th Finance Commission was constituted by the government on December 31, 2023, with former Niti Aayog vice-chairman Arvind Panagariya as its Chairman. The report by the panel was due by October 31. The Commission will mainly make recommendations on the distribution of taxes between the Centre and states for a 5-year period starting April 1, 2026. The Finance Ministry, in a notification dated October 10, said that the date for submission of the 16th Finance Commission report is being extended till November 30. The Commission has four members and is assisted by Secretary Ritvik Pandey, two joint secretaries and one economic advisor. 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 and RBI Deputy Governor T Rabi Sankar are part-time members. Besides suggesting tax .

India will become the world's third largest economy by 2026 as its GDP in current dollar terms will reach USD 5 trillion in that year and further rise to USD 5.5 trillion in 2027, former Niti Aayog Vice Chairman Arvind Panagariya said on Friday. Delivering the 18th C D Deshmukh Memorial Lecture titled 'India at 125: Reclaiming the Lost Glory and Returning the Global Economy to the Old Normal', he said it is unlikely that GDP in current dollar terms of either Germany or Japan will cross USD 5 trillion-mark in the coming three years. Japan will have to sustain a growth rate of 3.5 per cent in current dollar terms to reach USD 5.03 trillion in 2027 from its 2022 level of USD 4.2 trillion, he said. At the 4 per cent annual growth rate, German GDP will rise from USD 4.4 trillion in 2023 to USD 4.9 trillion in 2026 and USD 5.1 trillion in 2027, he said. "Given these estimates, how soon can the Indian GDP cross the GDPs of these two countries?.. that is the question," Panagariya said. I

Panagariya also argued that fiscal stimulus, which works by creating demand, cannot go far when there are no workers to help generate a supply respons

Not possible to achieve equality till there is gender equality, he added

One of the central principles of the GST is that we do not want to tax input users, he adds

Niti Aayog's outgoing V-C says critics overreacted and overestimated the costs of demonetisation