FinMin releases ₹7,183 cr. revenue-deficit grant to 14 States

The commission had recommended a total post-devolution revenue deficit grant of ₹86,201 crore to 14 states for fiscal year 2022-2023, which will be released in 12 monthly installments

The commission had recommended a total post-devolution revenue deficit grant of ₹86,201 crore to 14 states for fiscal year 2022-2023, which will be released in 12 monthly installments

The Treasury Department said Friday it has released the first tranche of the ₹7,183 crore revenue shortfall grant to 14 states.

The grant has been released as per the recommendations of the 15th Finance Commission to Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

“The Ministry of Expenditure, the Ministry of Finance, released the first monthly installment of the ₹7,183.42 crore post-devolution income deficit (PDRD) grant to 14 states on Thursday,” the ministry said in a statement.

The commission had recommended a total post-devolution revenue deficit grant of ₹86,201 crore to 14 states for the fiscal year 2022-2023, which will be released in 12 monthly installments.

The grants are released to the states according to the recommendations of successive finance commissions to close the gap in the states’ revenue accounts after devolution.

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