The grant of revenue deficit to the states is released under Article 275 of the Constitution. For this, the Finance Commission gives its recommendations from time to time, on the basis of which the Finance Ministry gives grants to the states to bridge the revenue deficit.
The government has released the 8th installment of revenue deficit (indicative picture)
The central government of the states revenue deficit A grant of Rs 7183.42 crore has been released to bridge the This amount has been given to 14 states of the country which include Andhra Pradesh, Punjab, Assam, Rajasthan and West Bengal. for the month of November Central government has released this amount. Finance Ministry gave this information by issuing a statement on Monday. 15th Finance Commission It has recommended the release of Rs 86,201 crore for 14 states during the financial year 2022-23.
After this recommendation, the Department of Expenditure of the Ministry of Finance has issued a grant to the states, in which 14 states will be given the amount in 12 EMIs. The Finance Ministry said in a statement, the Department of Expenditure has released Rs 7183 crore to 14 states on account of Post Value Devaluation Revenue Deficit (PDRD) and this amount has been given in the 8th EMI. This amount has been released on the basis of the recommendation of the 15th Finance Commission.
8 EMIs issued till now
After the release of Rs 7183 crore in the eighth EMI, Rs 57,467 crore has been released to the states in the financial year 2022-23 so far. The 8th EMI was issued to the states in the month of November. The grant of revenue deficit to the states is released under Article 275 of the Constitution. For this, the Finance Commission gives its recommendations from time to time, on the basis of which the Finance Ministry gives grants to the states to bridge the revenue deficit. This helps the states to reduce the revenue account deficit.
Recommendation of Finance Commission
Which state should get how much money as revenue deficit, it is decided by the Finance Commission. The Finance Commission itself tells that how much is the expenditure of which state and how much is its deficit. To compensate for this loss, the amount is released by the central government in different EMIs. This amount is given to the states in 12 EMIs, out of which 8 EMIs have been paid. The remaining 4 EMIs will be released further.
The amount received by these states
Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and Bengal are the states recommended by the 15th Finance Commission. Grants have been given to these states for the revenue deficit of this financial year. Now grants will be released to other states as well, which will be based on the recommendations of the Finance Commission.
English News Headline: Central government released 7183 crore as revenue deficit grant to 14 states