Arvind Panagariya, the former Chairman of NITI Aayog, has been designated as the leader of the 16th Finance Commission. Ritvi Ranjanam Pandey, the current Joint Secretary of Finance, will continue to serve as an officer on special duty for the “advance cell.”
Panagariya concluded his two-year tenure as the Chairman of NITI Aayog in August 2017. In a recent statement, he expressed optimism about India’s economic growth, suggesting that the country could become the world’s third-largest economy by 2026. Panagariya projected that India’s GDP, in current dollars, could reach $5 trillion in 2026 and $5.5 trillion in 2027, positioning India as the third-largest global economy earlier than most predictions anticipated. Business Today reported on the economist’s optimistic outlook earlier this year.
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