New Delhi: The Centre has released the second installment of states’ share of revenue deficit grant of Rs 6,000 crore. The development comes in a bid to assist the states’ plight arising out of coronavirus.
The grant had been released for 14 states including Andhra Pradesh, Kerala, Himachal Pradesh, West Bengal, Uttarakhand, Tamil Nadu, Punjab, Sikkim and six North-Eastern states excluding Arunachal Pradesh.
Finance Minister Nirmala Sitharaman’s Office tweeted, “The government on May 11, 2020 released Rs 6,195.08 crore to 14 states as the second equated monthly installment of the Post Devolution Revenue Deficit Grant as recommended by the 15th Finance Commission. This would provide them additional resources during the Corona crisis.”
The government on May 11, 2020 released Rs 6,195.08 crore to 14 states as the second equated monthly installment of the Post Devolution Revenue Deficit Grant as recommended by the 15th Finance Commission. This would provide them additional resources during the Corona crisis. pic.twitter.com/9W9kUorB62
— NSitharamanOffice (@nsitharamanoffc) May 11, 2020
Much of this money is expected to be used by states towards paying the salaries to their staff as sharp fall in tax collections in April has already put pressure on their accounts.
(With inputs from IANS)
