New Delhi : On Wednesday the central government released Rs 6,195 crore to 14 states as monthly instalment of the post-devolution revenue deficit grant.
The Finance Minister Nirmala Sitharaman said in a tweet, “The government on June 10, 2020, released Rs 6,195.08 crore to 14 states as the third equated-monthly instalment of the post-devolution revenue deficit grant as recommended by the 15th Finance Commission. This would provide them additional resources during the corona crisis.”
Earlier, on April 3 and May 11, the ministry released a similar amount as the first and second instalment of the post-devolution revenue deficit grant to 14 states — Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
The money has been released ahead of schedule and as a special dispensation to meet immediate funding needs of the state governments looking to restore economic activity and minimise losses to its citizens due to disruptions caused by lockdowns.
Image Source: Internet