The 15th Finance Commission has constituted an advisory council to advise and assist the commission. The six-member council will be headed by the President of Forum for Strategic Initiatives, Arvind Virmani.

The Finance Ministry, in a release said, the role and functions of the council will be to advise the commission on any issue or subject related to the Terms of Reference (ToR) of the Commission. Besides, the council will also assist the commission in the preparation of any paper or research study which will enhance the Commission's understanding on the issues containing in its ToR.

The advisory council will help in broadening the commission's ambit and understanding to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations.