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

The grant released includes Rs 1,276.91 crore to Kerala, Rs 638 crore to Punjab, and Rs 417.75 crore to West Bengal

Current Affairs : The Finance Ministry on Monday discharged Rs 6,195 crore income deficiency award to 14 states to upgrade their assets during Covid-19 emergency, as indicated by anews report by the Press Trust of India.

“The legislature on May 11, 2020 discharged Rs 6,195.08 crore to 14 states as the second likened regularly scheduled payment of the Post Devolution Revenue Deficit Grant as suggested by the fifteenth Finance Commission. This would give them extra assets during the Corona emergency,” the Office of Finance Minister Nirmala Sitharaman said in a tweet.

Prior on April 3, the service had discharged Rs 6,195 crore as the principal portion 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 and West Bengal.

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