Finance Ministry released a grant of Rs 9,871 crores
The post-devolution revenue deficit grant’s 4th monthly instalment was released by the Finance Ministry on Thursday, to 17 states. A total of Rs 39,484 was released. This grand was provided under Article 275 of the Constitution.
The grant will be released on an instalment basis. The eligibility to receive this grant was decided by the Finance Commission based on the gap between the assessment of revenue and state expenditure.
A total Post Devolution Revenue Deficit Grant of Rs 1,18,452 crore to 17 states was recommended by the commission, out of which Rs 39,484 crore (33.33 per cent) was released so far.
The states recommended for this grant by the 15th Finance Commission are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand, and West Bengal.