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Central Govt releases Rs 6,195 cr grant to 14 states

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nirmala sitaraman

The Centre has released Rs 6,195 crore to 14 states as a monthly installment of a post-devolution revenue deficit grant.

The 14 states that comes under this list are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

The Office of Finance Minister Nirmala Sitharaman tweeted “The government on September 10, 2020 released ₹6,195.08 crore to 14 states as the sixth equated monthly instalment of the Post Devolution Revenue Deficit Grant as recommended by the 15th Finance Commission. This would provide them additional resources during the Corona crisis.”

According to the finance ministry, AP received Rs 491.42 crore grant in September. The share of Assam was Rs 631.58 crore. HP received Rs 952.58 crore, Kerala (Rs 1,276.92 crore), Manipur (Rs 235.33 crore), Meghalaya (Rs 40.92 crore), Mizoram (Rs 118.50 crore) and Nagaland (Rs 326.42 crore).

While Punjab’s share in the grant was Rs 638.25 crore, TN, Tripura, Uttarakhand, West Bengal, and Sikkim received Rs 335.42 crore, Rs 269.67 crore, Rs 423 crore, Rs 417.75 crore, and Rs 37.33 crore, respectively, it added.

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.

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