NEW DELHI: The Center has released Rs 6,195 crore to 14 states as monthly payment for the subsequent return income shortfall subsidy.
“On September 10, 2020, the government released Rs 6,195.08 crore to 14 states as the sixth equivalent monthly installment of the Post-Refund Income Deficit Grant as recommended by the 15th Finance Commission. This would provide them with additional resources during the Corona crisis, “said the finance minister’s office Nirmala Sitharaman he said in a tweet.
“On September 10, 2020, the government released Rs 6,195.08 crore to 14 states as the sixth equivalent monthly installment of the Post-Refund Income Deficit Grant as recommended by the 15th Finance Commission. This would provide them with additional resources during the Corona crisis, “said the finance minister’s office Nirmala Sitharaman he said in a tweet.
On September 10, 2020, the government released Rs 6,195.08 crore to 14 states as the sixth monthly equal installment… https://t.co/JA94IkeCY5
– NSitharamanOffice (@nsitharamanoffc) 1599795522000
Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal are the 14 states to which the grant has been awarded.
A similar amount was released as a grant in the April-August period of the current financial year.
The finance commission provides a mechanism for the Center to compensate for the loss of revenue incurred by the states, known as a post-payback revenue shortfall grant.
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