Finance Ministry releases Rs 6,195 cr revenue deficit grant to 14 states

The Finance Ministry on Monday released Rs 6,195 crore revenue deficit grant to 14 states to enhance their resources during Covid-19 crisis, according to anews report by the Press Trust of India.

"The government on May 11, 2020 released Rs 6,195.08 crore to 14 states as the second equated monthly installment of the Post Devolution Revenue Deficit Grant as recommended by the 15th Finance Commission. This would provide them additional resources during the Corona crisis," the Office of Finance Minister Nirmala Sitharaman said in a tweet.

 

The grant released includes Rs 1,276.91 crore to Kerala, Rs 638 crore to Punjab, and Rs 417.75 crore to West Bengal, the PTI report said.

Earlier on April 3, the ministry had released Rs 6,195 crore as the first installment of the 'Post Devolution Revenue Deficit Grant' to 14 states -- Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand & West Bengal.