HomeBusinessFinance Ministry Releases Post Devolution Grant To States

Finance Ministry Releases Post Devolution Grant To States

Finance Ministry Releases Post Devolution Grant To States

Government has launched the month-to-month instalment of publish devolution grant to states

The Finance Ministry has launched the sixth instalment of the publish devolution income grant of Rs 9,871 crore to the states. With this, a complete of Rs 59,226 crore has been launched to the eligible states as grant within the present monetary 12 months.

States beneficial for the grant by the fifteenth Finance Commission are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

The grant is given to states beneath Article 275 of the Constitution and as per the suggestions of the fifteenth Finance Commission.

These are launched in month-to-month installments to fulfill the hole in income accounts of the states publish devolution.

The fee has beneficial these grants to 17 states throughout 2021-22.

The eligibility of states to obtain this grant and the quantum of grant was determined by the fee, based mostly on the hole between evaluation of income and expenditure of the state after making an allowance for the assessed devolution for the monetary 12 months 2021-22.

The fee has beneficial a complete grant of Rs 1,18,452 crore to 17 states in 2021-22. 

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