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

The finance ministry on Monday released the third monthly installment of the revenue deficit grant of Rs 7,183 crore to 14 states.

The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23. This is to be released in 12 equated monthly installments.

The states receiving this grant are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.

''The Department of Expenditure has on Monday released the 3rd monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States,'' the ministry said in a statement.

With the release of the third installment for the month of June 2022, the total amount of revenue deficit grants released to the states in 2022-23 stands at Rs 21,550.25 crore.