financetom
Economy
financetom
/
Economy
/
Finance ministry releases 1st instalment worth Rs 8,873 crore of SDRF to states
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Finance ministry releases 1st instalment worth Rs 8,873 crore of SDRF to states
May 1, 2021 4:24 AM

The Finance Ministry on Saturday said it has released in advance to the states the first instalment worth Rs 8,873.6 crore of the state disaster response fund (SDRF) for the current fiscal. Up to 50 per cent of the amount released, which is Rs 4436.8 crore, can be used by the states for COVID-19 containment measures.

Share Market Live

NSE

Normally, the first instalment of SDRF is released in the month of June as per the recommendations of the Finance Commission. ”However, in relaxation of normal procedure, not only has the release of SDRF been advanced, the amount has also been released without waiting for the utilisation certificate of the amount provided to the states in the last financial year,” the ministry said in a statement.

As a special dispensation, the Department of Expenditure, Ministry of Finance, at the recommendation of the Ministry of Home Affairs has released in advance of the normal schedule the 1stinstalment of the Central Share of the State Disaster Response Fund (SDRF) for the year 2021-22 to all the states. An amount of Rs 8,873.6 crore has been released to the states, it said.

Also Read

: India's daily COVID-19 cases hit 4 lakh

The funds from the SDRF may be used by the states for various measures related to containment of COVID-19 including meeting the cost of oxygen generation and storage plants in hospitals, ventilators, air purifiers, strengthening ambulance services, COVID-19 hospitals, Covid Care Centres, consumables, thermal scanners, personal protective equipment, testing laboratories, testing kits, containment zone, etc.

First Published:May 1, 2021 1:24 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Exclusive-Fed's Barkin: Confidence to cut rates requires breadth of inflation to narrow
Exclusive-Fed's Barkin: Confidence to cut rates requires breadth of inflation to narrow
Apr 4, 2024
RICHMOND, Virginia (Reuters) - Richmond Federal Reserve President Thomas Barkin said he is focused intently on the persistent breadth of inflation across goods and services, and feels slower price increases need to be more widespread before he is comfortable cutting interest rates. Barkin, who is a voter this year on Fed interest rate policy, described in an interview on Thursday...
Yellen says global concerns growing over China's excess industrial capacity
Yellen says global concerns growing over China's excess industrial capacity
Apr 5, 2024
GUANGZHOU, China (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that concerns are growing over the global economic fallout from China's excess manufacturing capacity, making the issue the main focus of four days of economic meetings with Chinese officials. China is too large to export its way to rapid growth and would benefit by reducing excess industrial capacity which...
Moderate slowdown in US job, wage growth expected in March
Moderate slowdown in US job, wage growth expected in March
Apr 4, 2024
WASHINGTON (Reuters) - U.S. job growth likely slowed moderately in March, while wage gains remained elevated, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated interest rate cuts from the Federal Reserve this year. The Labor Department's closely watched employment report on Friday is also expected to show the unemployment rate remaining below 4% for...
Yellen says global concerns growing over China's excess industrial capacity
Yellen says global concerns growing over China's excess industrial capacity
Apr 5, 2024
GUANGZHOU, China (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that concerns are growing over the global economic fallout from China's excess manufacturing capacity, making the issue the main focus of four days of economic meetings with Chinese officials. China is too large to export its way to rapid growth and would benefit by reducing excess industrial capacity which...
Copyright 2023-2025 - www.financetom.com All Rights Reserved