Latest News | FinMin Releases Rs 7,183 Cr Grant to 14 States

New Delhi, Oct 6 (PTI) The Finance Ministry on Thursday released the monthly instalment of revenue deficit grant of Rs 7,183 crore to 14 states.

With the release of seventh instalment for the month of October, 2022, the total amount of Revenue Deficit Grants released to the states in current fiscal has gone up to Rs 50,282.92 crore, an official statement said.

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The Post Devolution Revenue Deficit Grant is released based on the recommendation of the 15th 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 said.

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The eligibility of states to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the 15th Finance Commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)