The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27th November, 2017. The Commission will make recommendations for the five years commencing on April 1, 2020.

This Commission will be headed by Shri. N.K.Singh, former Member of Parliament and former Secretary to the Government of India. Shri Shaktikanta Das, former Secretary to the Government of India and Dr. Anoop Singh, Adjunct Professor, Georgetown University shall be the members of the Commission.  Dr. Ashok Lahiri, Chairman (Non-executive, part time), Bandhan Bank and Dr. Ramesh Chand, Member, NITI Aayog shall be the Part time members of the Commission. Shri Arvind Mehta shall be the Secretary to the Commission. 

The Terms of Reference of the Commission has been issued vide notification Number S.O.3755(E). dated 27th November, 2017.

http://www.egazette.nic.in/WriteReadData/2017/180483.pdf

Constitution of Finance Commission establishes panel under Article 280 to recommend fiscal devolution for a five year period. Constituted under Article 280 and the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27 November 2017, the Fifteenth Finance Commission is tasked to make recommendations on fiscal devolution and related arrangements for the five-year period commencing 1 April 2020; the notification specifies the Commission's Chair, members, part time members and Secretary and records that the Terms of Reference have been issued by formal notification.