Centre Releases Rs 6,195 Crore to 14 States Following Finance Commission Recommendations

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posted on 3 years ago — updated on 1 second ago

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The Finance Ministry wrote on Twitter that the money was released by the government to the 14 states as monthly instalment of post-devolution revenue deficit grant.

The Centre has released Rs 6,195 crore to 14 states as monthly instalment of post-devolution revenue deficit grant.

“Based on the 15th Finance Commission interim recommendations, the Govt has released Rs 6,195.08 crore to 14 states on account of the eighth equated monthly installment of Post Devolution Revenue Deficit Grant, Office of Finance Minister Nirmala Sitharaman tweeted on Tuesday.

The 14 states are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal. A similar amount was released as grant in April-October period of the current financial year.

The Finance Commission provides a mechanism for the Centre to compensate for revenue loss incurred by states, which is referred to as post devolution revenue deficit grant.

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