<h1>India Forms 16th Finance Commission to Tackle Tax Distribution, State Funding, and Disaster Management Financing.</h1> The Government of India has established the Sixteenth Finance Commission with a former Vice-Chairman of NITI Aayog as its Chairman. The Commission, approved by the President, will address the distribution of tax proceeds between the Union and States, principles for State grants-in-aid, and measures to enhance State funds for local bodies. It will also review Disaster Management financing under the Disaster Management Act, 2005. The Commission is expected to submit its report by October 31, 2025, covering a five-year period starting April 1, 2026. The Secretary to the Commission has been appointed, and detailed terms of reference have been issued.