10th installment of revenue deficit grant released, 17 states got Rs 9,871 crore

In the current financial year, so far, a total of about one lakh crore rupees have been released to the states. Which is 83 percent of the recommended amount.

10th installment of revenue deficit grant released

The Finance Ministry has released the 10th installment of the Revenue Deficit Grant on Thursday. According to the release issued by the Ministry of Finance, Rs 9871 crore has been released to 17 states under this installment. At the same time, in the current financial year, so far, a total of about one lakh crore rupees have been released to the states.

83 percent of the total recommendation issued

The Finance Ministry said in a statement today that the Department of Expenditure has released Rs 9,871 crore to 17 states under revenue deficit grant after sharing in monthly central taxes, this was the 10th installment of the grant. 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 data released so far in the current financial year, Rs 16575.83 crore has been released to Kerala, Rs 14672.50 crore to West Bengal, Rs 14380.83 crore to Andhra Pradesh, Rs 8400.83 crore to Punjab, Rs 8231.67 crore to Rajasthan, Rs 6476.67 crore to Uttarakhand. Huh. Thus, with the grant of 10th installment, Rs 98710 crore has been released to 17 states in the current financial year. At the same time, Kerala has the highest share in the 10th installment, to which Rs 1657.58 crore has been released. The same Rs 1438.08 crore has been released to Andhra Pradesh and Rs 1467.25 crore to West Bengal.

What is Revenue Deficit Grant

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 17 states to give Rs 1,18,452 crore as revenue deficit grant in the financial year 2021-22, out of which Rs 98,710 crore has been released so far. Which is 83.3 percent of the total grant amount recommended.

Read the Finance Ministry release here

Read also: Cabinet decisions: Second phase of Green Energy Corridor approved, 12 thousand crore rupees will be spent

Read also: RBI may keep key rates stable even next month, economists predict