New Delhi. The central government released the monthly installment of revenue deficit grant to 14 states for the month of November. The Finance Ministry said in a statement on Monday that Rs 7,183.42 crore has been released as revenue deficit grant to 14 states including Andhra Pradesh, Punjab, Assam, Rajasthan and West Bengal. The 15th Finance Commission has recommended the release of Rs 86,201 crore for 14 states during the financial year 2022-23. The recommended grant is released by the Department of Expenditure to the recommended states in 12 equated monthly installments.
“The Department of Expenditure released the 8th monthly installment of Post Devolution Revenue Deficit (PDRD) grant of Rs 7,183.42 crore to 14 states as per the recommendations of the Fifteenth Finance Commission,” the ministry said in a press release.
Also read: Gold Price- Gold became costlier by ₹81, silver became cheaper, know what rate 10gm gold is getting today
8th installment released
With the release of the eighth installment for the month of November, 2022, the total amount of revenue deficit grant released to the states in 2022-23 has increased to Rs. 57,467.33 crore, it said. Under Article 275 of the Constitution, revenue deficit grant is provided to the states after transfer. To bridge the gap in the revenue accounts of the states, grants are released to the states as per the recommendations of successive Finance Commissions.
The eligibility of states to receive this grant and the quantum of grant for the period 2020-21 to 2025-26 was determined by the Fifteenth Finance Commission based on the interval between the assessment of the state’s revenue and expenditure.
The amount received by these states
The Ministry said that the states which have been recommended by the Fifteenth Finance Commission for grants during the current financial year are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura , Uttarakhand and West Bengal.
Tags: business news in hindi, Modi government, Modi Govt, Revenue Department
FIRST PUBLISHED : November 07, 2022, 20:32 IST