List of Finance Commissions and their Chairmen/Heads

The Indian Finance commission to define financial relationship b/w the Central government of India and individual state government of India. The Finance commission chairman was periodically changed by the President of India under Article 280 of the indian constitution. It was formed in November 1951 by Dr. B.R. Ambedkar. The finance commission has a chairman and four members which is appointed by the president of India. The commission is appointed for every five years as per the constitution. The headquarter of Finance Commission is situated in New Delhi. It determines the method and formula for distributing tax from central to state government. The Central government decides the terms of reference while the constitution of India. The commission also decides the principle that rules the payment of grants-in-aids to the state from the fund of India. India suffers from both horizontal and vertical fiscal Imbalances. Vertical Imbalances b/w the Central and State Government of India results where the central government demands incurring expenditure credentials from the state government to their source of revenue, in the process of fulfilling their responsibilities. Horizontal Imbalance among state government regarding incurring expenditure or resources endowment. According to above provision, the finance commission serves as an institutional framework central to state transfers. Here we have 15 finance commission have been since act 1951

There are a total 15 Finance Commission appointed till now.

  • The First Finance Commission was appointed in 1951. The duration of the First Finance commission was 1952-1957. The Chairman of the first finance commission was C. Neogy. He was an Indian politician from West Bengal.
  • The Second Finance Commission was appointed in 1956. The duration of Second Finance commission was 1957-1962. Chairman of the Second finance commission was Santhanam. He was an Indian Politician.
  • The Third Finance Commission was appointed in 1960. The duration of the Third Finance commission was 1962-1966. Chairman of the Third finance commission was K. Chanda.
  • The Fourth Finance Commission was appointed in 1964. And Operation duration of Fourth Finance commission was 1966-1969. Chairman of the fourth finance commission was V. Rajamannar. He was an Indian judge and Politician.
  • The Fifth Finance Commission was appointed in 1968. And Operation duration of Fifth Finance commission was 1969-1974. Chairman of the Fifth finance commission was Mahaveer Tyagi. He was an Indian judge and Politician.
  • The Sixth Finance Commission was appointed in 1972. And Operation duration of the sixth Finance commission was 1974-1979. Chairman of the sixth finance commission was Brahmananda Reddy. He was the Chief Minister of Andhra Pradesh.
  • The Seventh Finance Commission was appointed in 1977. And Operation duration of the seventh finance commission was 1979-1984. Chairman of the seventh finance commission was M. Shelat.
  • The Eighth Finance Commission was appointed in 1983. And Operation duration of Eighth finance commission was 1984-1989. Chairman of the eighth finance commission was B. Chavan. He was an Indian Politician.
  • The Ninth Finance Commission was appointed in 1987. And Operation duration of ninth finance commission was 1989-1995. Chairman of the ninth finance commission was K. P. Salve. He was a veteran Indian politician from Indian National Congress.
  • The Tenth Finance Commission was appointed in 1992. And Operation duration of tenth finance commission was 1995-2000. Chairman of the tenth finance commission was C. Pant. He was an Indian Member of Parliament for 26 years and was the Prime Minister’s interlocutor on Kashmir.
  • The Eleventh Finance Commission was appointed in 1998. And Operation duration of eleventh finance commission was 2000-2005. Chairman of the eleventh finance commission was M. Khusro. He was an intellectual.
  • The Twelfth Finance Commission was appointed in 2002. And Operation duration of twelfth finance commission was 2005-2010. Chairman of the twelfth finance commission is Rangarajan. He is an Indian Economist.
  • The Thirteenth Finance Commission was appointed in 2007. And Operation duration of thirteenth finance commission was 2010-2015. Chairman of the thirteenth finance commission is Vijay L. Kelkar. He is an Indian economist and academic.
  • The Fourteenth Finance Commission was appointed in 2013. And Operation duration of fourteenth finance commission was 2015-2020. Chairman of the fourteenth finance commission is Y. V Reddy. He is an Indian economist and retired IAS Officer.
  • The Fifteenth Finance Commission was appointed in 2017. And Operation duration of the fifteenth finance commission was 2020-2025. Chairman of the Fifteenth finance commission is  N. K. Singh. He is an Indian Politician and senior member of Bharatiya Janata Party.