Finance Ministry releases over seven thousand crore rupees to 14 States

New Delhi: Finance Ministry released the second monthly installment of the Post Devolution Revenue Deficit grant of over seven thousand crore rupees to 14 States. With this release, the total amount released to the States has gone up to 14 thousand 366 crore rupees. The grant has been released as per the recommendations of the Fifteenth Finance Commission.

The States which have been recommended for the grant by the Fifteenth Finance Commission are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of 86 thousand 201 crore rupees to 14 States for this financial year. The recommended grant will be released by the Department of Expenditure to the States in 12 equated monthly installments.