The Union Finance Ministry on July 8 released the fourth monthly instalment of revenue deficit grant of Rs 7,183.42 crore to 14 states. The grant has been released as per the recommendations of the Fifteenth Finance Commission.

"The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23. The recommended grant is released in 12 equated monthly instalments," the ministry said in a statement.

With the release of the fourth instalment for the month of July 2022, the total amount of revenue deficit grants released to the states in 2022-23 has gone up to Rs 28,733.67 crore.

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

The grants are released to the states as per the recommendations of the successive finance commissions to meet the gap in revenue accounts of the states post-devolution.

The eligibility of states to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the Fifteenth Commission based on the gap between the assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.

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(Edited by : Shoma Bhattacharjee)

First Published:Jul 6, 2022 8:10 PM IST