Government Releases Revenue Deficit Grant To 14 States Worth Rs 7,183 Crore

Finance Ministry has released the revenue deficit grant worth Rs 7,183 crore to 14 states as per the recommendation of the 15th Finance Commission.

This the third monthly instalment of the grant in the current fiscal and with this, the total revenue deficit grant released to states so far is Rs 21,550 crore.

States will get a total revenue deficit grant of Rs 86,201 crore in 2022-23, a statement by Finance Ministry said.

These grants are released in 12 monthly instalments and are given to states to help them meet the gap in their revenue accounts after devolution.

The 15th Finance Commission had decided the eligibility criteria of states for receiving this grant for a period from 2020-21 to 2025-26.

The criteria was fixed by the 15th Finance Commission on the basis of the gap between assessment of revenue and expenditure of states and after considering the assessed devolution during the period, the statement said. 

Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Rajasthan, Uttarakhand and West Bengal are among the 14 states which have been given the grant.