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AP gets Revenue Deficit Grant of Rs 879.08 cr
Representational image
The department of expenditure, ministry of finance, releases the funds as the third instalment for June, 2022
New Delhi: The department of expenditure, ministry of finance, released Rs 879.08 crore to Andhra Pradesh towards the third instalment for June, 2022, under Revenue Deficit Grant on Monday.
Andhra Pradesh has been recommended Rs 10,549 crore towards the deficit grant for 2022-23 by the 15th Finance Commission and the total released so far this year is Rs 2,637.25 crore.
The department of expenditure released a total of Rs 7,183.42 crore to 14 states on Monday.
The 15th Finance Commission has recommended a total Post-Devolution Revenue Deficit Grant of Rs. 86,201 crore to 14 states for the financial year 2022-23. The recommended grant is released by the department of expenditure to the recommended states in 12 equated monthly instalments. With the release of 3rd instalment for the month of June, 2022, the total amount of Revenue Deficit Grants released to the states in 2022-23 has gone up to Rs. 21,550.25 crore.
The Post Devolution Revenue Deficit Grants are provided to the states under Article 275 of the Constitution. The grants are released to the states as per the recommendations of the successive Finance Commissions to meet the gap in revenue accounts of the states post-devolution. The eligibility of states to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the 15th Finance Commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.
The states which have been recommended Post Devolution Revenue Deficit Grant are : Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
