Solution:On November 27, 2017, the constitution of the 15th Finance Commission was announced with the approval of the President under Article 280 (1) of the Constitution. N.K. Singh has been nominated the chairman of 15th Finance Commis-sion.Mr. N.K. Singh is a former Secretary to the Government of India and a member of the Rajya Sabha. The tenure of the 15th Finance Commission will be till the year 2020-25. The sixteenth Finance Commission was constituted on 31 December 2023 with Shri Arvind Panagariya, formar Vice-Chairman.
NITI Aayog as its Chairman. Shri Ajay Narayan Jha, Smt. Annie George Mathew and Dr. Niranjan Rajadhyaksha are full time members and Dr. Soumya Kanti Ghosh is serving as part time member of sixteenth Finance Commission.