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

States will get a total revenue deficit grant of Rs 86,201 cr in FY23, which will be released in 12 equated monthly instalments

The finance ministry on Monday released the third monthly instalment of 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 instalments.

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 instalment 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 instalment 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.