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Centre releases Rs 6,195 cr to 14 states 

“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.

PTI | New Delhi | Updated: 10-11-2020 17:26 IST | Created: 10-11-2020 17:18 IST
Centre releases Rs 6,195 cr to 14 states 
Representative Image Image Credit: Pixabay

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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