Applications are being accepted for Young Professionals (YPs)/Consultants on a contract basis by the Sixteenth Finance Commission (XVIFC). On its website, the XVIFC has posted information on eligibility, terms of reference, compensation, and the application form. 

The only way for applicants to express their interest in being appointed as YPs or Consultants on a contract basis with the Commission is through email to the Director of the 16th Finance Commission at manish.kr1975[at]nic[dot]in, with a copy to Rahul.sharma89[at]nic[dot]in. For this purpose, no actual copy should be given, according to a Ministry of Finance statement.

Three categories/grades are used to group the consultants. The primary requirement for eligible candidates is an MBA or Master's degree in finance, economics, or a related field, as well as an ICWA or CA designation. The following are the age restriction, level of experience needed, and compensation for each category:

SR No classification or consultant level; years of experience Maximum age at which Fixed Strength Monthly Salary

1. Professional Younger Than 32 Years80,000 Rupees
2. 50+ Years as a Consultant in Two1,20,000 rupees
3. Senior Consultant, 9+ Years, 45 Years, 3 Rupees

According to the statement, a consultant's term will start at one year and can be extended up to the commission's duration, contingent on the consultant's performance and professionalism. It further said that consultants would only be hired on a set salary basis for a predetermined amount of time, and they would not be eligible for pay increases while their contract was being considered for extension.