List of Finance Commission Chairmen in India

The Finance Commission is a constitutional body formed every five years by the President of India. Its primary function is to recommend principles governing the distribution of tax revenues between the Union Government and the State Governments. These recommendations are crucial for ensuring fiscal federalism and resource equity across the country. The Finance Commission also suggests measures to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.

Here’s a chronological list of the chairmen of the Finance Commissions in India, highlighting their tenures and notable contributions where available:

1. First Finance Commission (1951-1956): K.C. Neogy

   Established under Article 280 of the Constitution, this commission laid the foundation for resource allocation between the Centre and the States.

2. Second Finance Commission (1956-1961): K. Santhanam

   This commission addressed the complexities of a rapidly developing nation and refined the principles of tax devolution.

3. Third Finance Commission (1961-1965): A.K. Chanda

   This commission focused on enhancing the fiscal autonomy of the states and made recommendations to improve financial stability.

4. Fourth Finance Commission (1965-1969): P.V. Rajamannar

   This commission emphasized the need for a more balanced approach to resource distribution, considering the varying needs of different states.

5. Fifth Finance Commission (1969-1974): Mahavir Tyagi

   This commission dealt with the challenges posed by increasing expenditure and recommended measures for fiscal discipline.

6. Sixth Finance Commission (1972-1977): K. Brahmananda Reddy

   This commission contributed significantly to refining the criteria for determining states’ shares in central taxes.

7. Seventh Finance Commission (1977-1979): J.M. Shelat

   This commission focused on promoting equitable development across all states, taking into account their specific socio-economic conditions.

8. Eighth Finance Commission (1982-1987): Y.V. Chandrachud

   This commission recommended a substantial increase in the states’ share of central taxes, aiming to strengthen their financial position.

9. Ninth Finance Commission (1987-1989 & 1989-1995): N.K.P. Salve

   This commission was constituted in two parts. It made significant changes in the methodology of assessment and focused on normative assessment of receipts and expenditure.

10. Tenth Finance Commission (1992-1997): K.C. Pant

    This commission dealt with the implications of economic liberalization and globalization on state finances.

11. Eleventh Finance Commission (1998-2000): A.M. Khusro

    This commission highlighted the importance of fiscal consolidation and recommended measures to improve revenue mobilization at the state level.

12. Twelfth Finance Commission (2002-2007): C. Rangarajan

    This commission introduced several innovations in the methodology for tax devolution and recommended a debt restructuring package for states.

13. Thirteenth Finance Commission (2007-2010): Vijay L. Kelkar

    This commission emphasized the need for fiscal prudence and sustainable development, and recommended performance-based incentives for states.

14. Fourteenth Finance Commission (2013-2015): Y.V. Reddy

    This commission significantly increased the share of states in the divisible pool of central taxes to 42%, a landmark decision that empowered state governments.

15. Fifteenth Finance Commission (2017-2021): N.K. Singh

    The commission’s report was tabled in Parliament in 2020, amidst economic challenges. It recommended maintaining fiscal discipline while addressing state-specific needs.