The finance ministry on Monday released the third monthly installment of revenue deficit grant of Rs 7,183 crore to 14 states. Nagaland’s share from the third monthly installment of the grant is Rs. 377.50 crore.
A total of Rs. 4,530 crore has been recommended for Nagaland by the Fifteenth Finance Commission for the year 2022-23 of which Rs. 1132.50 has been released to the state so far.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23. This is to be released in 12 equated monthly installments.
With the release of the third installment for the month of June 2022, the total amount of revenue deficit grants released to the states in 2022-23 stands at Rs 21,550.25 crore.The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. The grants are released to the States as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the States post devolution.
The eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the Fifteenth Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.
The states receiving this grant are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.