Government has launched third instalment of income deficit grant to 14 states for 2022-23
Finance Ministry has launched the income deficit grant price Rs 7,183 crore to 14 states as per the advice of the fifteenth Finance Commission.
This the third month-to-month instalment of the grant within the present fiscal and with this, the entire income deficit grant launched to states up to now is Rs 21,550 crore.
States will get a complete income deficit grant of Rs 86,201 crore in 2022-23, a press release by Finance Ministry stated.
These grants are launched in 12 month-to-month instalments and are given to states to assist them meet the hole of their income accounts after devolution.
The fifteenth Finance Commission had determined the eligibility standards of states for receiving this grant for a interval from 2020-21 to 2025-26.
The standards was mounted by the fifteenth Finance Commission on the idea of the hole between evaluation of income and expenditure of states and after contemplating the assessed devolution throughout the interval, the assertion stated.
Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Rajasthan, Uttarakhand and West Bengal are among the many 14 states which have been given the grant.
