In the current financial year so far, Rs 98,710 crore has been released to 17 states under revenue deficit grant after sharing the central taxes.
“The Department of Expenditure released Rs 9,871 crore to 17 states under Revenue Deficit Grant after sharing in monthly central taxes,” the ministry said in a statement. This was the 10th installment released under this head.
This grant has been given to Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
According to the recommendations of the Fifteenth Finance Commission, the Central Government releases this grant in the form of monthly installments to meet the gap in the revenue accounts of the states after sharing the central taxes. The commission has recommended grants to 17 states for the financial year 2021-22.
The commission has determined the eligibility and quantum of states to receive this grant. This determination has been made on the basis of the difference between the assessment of revenue and expenditure of the state, taking into account the transfer of the amount earmarked as a share in central taxes for 2021-22.
According to an official statement, “The 15th Finance Commission had recommended a revenue deficit grant of Rs 1,18,452 crore to 17 states in the financial year 2021-22 after sharing of central taxes. Of this, Rs 98,710 crore (83.3 per cent) has been released so far.
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