Finance Ministry information: Finance Ministry releases Rs 7,183 cr income deficit grant to 14 states

The Finance Ministry on Friday stated it has launched the primary instalment of income deficit grant of Rs 7,183 crore to 14 states. The grant has been launched as per the suggestions of the fifteenth Finance Fee to Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

“The Division of Expenditure, Ministry of Finance, has on Thursday launched the first month-to-month instalment of Submit Devolution Income Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 States,” the ministry stated in an announcement.

The fee had advisable a complete Submit Devolution Income Deficit Grant of Rs 86,201 crore to 14 states for the monetary yr 2022-23, which will probably be launched in 12 month-to-month instalments.

The grants are launched to the states as per the suggestions of the successive Finance Commissions to satisfy the hole in Income Accounts of the states post-devolution.
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