The finance ministry released revenue deficit grant of Rs 98.71 billion

The Department of Expenditure, Ministry of Finance, has released the second monthly instalment of post-devolution revenue deficit grant of Rs 98.71 billion for the year 2021-22 to 17 states. With the release of the second instalment, a total amount of Rs 197.42 billion has been released in the first two months of the current financial year as post-devolution revenue deficit grant to states. The grants are released as per the recommendations of the 15th Finance Commission in monthly instalments to meet the gap in revenue accounts of states post-devolution. The grant is released to states in 12 monthly instalments. The eligibility of states to receive this grant and the quantum of grant was decided by the Finance Commission, based on the gap between the assessment of revenue and the expenditure of the state.