Finance Minister Nirmala Sitharaman laid the 16th Finance Commission report on tax revenue devolution between the Centre and states for 2026–2031 in the Lok Sabha.
The ninth consecutive Budget brings Sitharaman closer to the record of 10 Budgets presented by Morarji Desai.
Finance Minister Nirmala Sitharaman on Sunday tabled the 16th Finance Commission report on tax revenue devolution between the Centre and the states for the period 2026–2031 in the Lok Sabha.
The Finance Commission, a constitutional body set up periodically, recommends the formula for the sharing of tax revenues between the Centre and states. Cesses and surcharges levied by the Centre do not form part of the divisible pool.
The 16th Finance Commission was constituted on December 31, 2023, and is headed by former NITI Aayog vice-chairman Arvind Panagariya. Its members include retired bureaucrat Annie George Mathew, economist Manoj Panda, SBI Group Chief Economic Adviser Soumya Kanti Ghosh and RBI Deputy Governor T Rabi Sankar, with Ritvik Pandey serving as secretary to the commission. The panel submitted its report to President Droupadi Murmu on November 17, 2025.
Presenting the Union Budget for 2026–27 in the Lok Sabha, Sitharaman said the government has chosen the path of reforms over rhetoric and reaffirmed that India will continue to move towards becoming a Viksit Bharat.
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Along with the Budget, the finance minister also formally laid the Finance Commission report in the House.
This is Sitharaman’s ninth consecutive Union Budget, bringing her closer to the record of 10 Budgets presented by Morarji Desai over different periods.
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