FinMin releases Rs 7,183 cr revenue deficit grant to 14 states

The Finance Ministry on Friday said it has released the first instalment of revenue deficit grant of Rs 7,183 crore 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 Department of Expenditure, Ministry of Finance, has on Thursday released the 1st monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 States,” the ministry said in a statement.

The commission had recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23, which will be released in 12 monthly instalments.

The grants are released to the states as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the states post-devolution.