Centre has launched the income deficit grant to states for 2021-22
The Centre has launched the third month-to-month instalment of submit devolution income deficit grant of Rs 9,871 crore to 17 states. The grant is for the present fiscal, i.e. 2021-22.
The Department of Expenditure of the Ministry of Finance disburses this quantity to states, and with the discharge of the third instalment, Rs 29,613 crore in complete have been launched within the first three months of 2021-22.
The grants are launched to assist the states meet their hole in income accounts, submit devolution.
The submit devolution income deficit grant to states is launched as per the provisions of Article 275 of the Constitution and that is achieved as per the advice of the Finance Commission.
The fee decides the eligibility of states for receiving the grant after assessing their income and expenditure.
A complete of Rs 1,18,452 crore by way of grant has been urged by the fifteenth Finance Commission for 2021-22, to 17 states. It is launched in 12 month-to-month instalments to them.
The 17 states which have been given the grant are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
