SUMMARY Panel would recommend revenue sharing formula for five-year period from FY27 onwards Finance Commission is a Constitutionally mandated body to decide revenue sharing, other issues between Centre and States Budget 2023-24 had allocated Rs 10 crore towards it The Sixteenth Finance Commission is likely to be constituted in the next one to two months, top government sources have indicated. 'The outer limit for setting up the Commission is the end of the current calendar year 2023.

https://www.businesstoday.in/latest/economy/story/centre-to-set-up-sixteenth-finance-commission-by-year-end-394641-2023-08-18

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