FinMin releases 1st monthly installment of revenue deficit grant to 14 States

India's Finance Ministry has released the 1st monthly installment of post devolution revenue deficit grant of over seven thousand Rs 183 crore to 14 States. The grants are released to meet the gap in Revenue Accounts of the States post-devolution.

The Ministry said the Commission has recommended a total post devolution revenue deficit grant of Rs 86,201 crore to 14 States for the financial year 2022-23.

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

The recommended grant will be released by the Department of Expenditure to the recommended States in 12 equated monthly installments.

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