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Centre has released the revenue deficit grant to states for 2021-22
The Centre has released the third monthly instalment of post devolution revenue deficit grant of Rs 9,871 crore to 17 states. The grant is for the current fiscal, i.e. 2021-22.
The Department of Expenditure of the Ministry of Finance disburses this amount to states, and with the release of the third instalment, Rs 29,613 crore in total have been released in the first three months of 2021-22.
The grants are released to help the states meet their gap in revenue accounts, post devolution.
The post devolution revenue deficit grant to states is released as per the provisions of Article 275 of the Constitution and this is done as per the recommendation of the Finance Commission.
The commission decides the eligibility of states for receiving the grant after assessing their revenue and expenditure.
A total of Rs 1,18,452 crore in terms of grant has been suggested by the 15th Finance Commission for 2021-22, to 17 states. It is released in 12 monthly instalments to them.
The 17 states which have been given the grant are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
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