Finance Ministry Releases Rs 7,183 Crore Grant To 14 States

The Finance Ministry launched the month-to-month instalment of income deficit grant. (Representationhal)

New Delhi:

The Finance Ministry on Thursday launched the month-to-month instalment of income deficit grant of Rs 7,183 crore to 14 states. With the discharge of seventh instalment for the month of October, 2022, the entire quantity of Revenue Deficit Grants launched to the states in present fiscal has gone as much as Rs 50,282.92 crore, an official assertion mentioned.

The Post Devolution Revenue Deficit Grant is launched based mostly on the advice of the fifteenth Finance Commission to 14 states – Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

“The Department of Expenditure, Ministry of Finance has on Thursday released the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states,” the ministry mentioned.

The eligibility of states to obtain this grant and the quantum of grant for the interval from 2020-21 to 2025-26 was determined by the fifteenth Finance Commission based mostly on the hole between evaluation of income and expenditure of the state after taking into consideration the assessed devolution throughout this era.

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