COVID-19: Finance Minister releases grant of Rs 6,195 crore to help states

Mangalore Today News Network

New Delhi, May 12, 2020: On Monday, 11 May, the Finance Ministry released a revenue deficit grant of Rs 6,195 crore to 14 states.

This included Rs 1,276.91 crore to Kerala, Rs 638 crore to Punjab, and Rs 417.75 crore to West Bengal, Yahoo reported.

 

The office of Finance Minister Nirmala Sitharaman put out a tweet saying, “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.”

Last month, on 3 April the Finance Ministry had released the first instalment of the ’Post Devolution Revenue Deficit Grant’ which included 14 states – Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand & West Bengal. The Ministry had sanctioned Rs 6,195 crore in the first instalment as well.