National

Centre releases Rs.326.41 crore to Nagaland

Spl. Correspondent NEW DELHI, NOV 10 (NPN) | Publish Date: 11/10/2020 12:50:52 PM IST

Centre on Tuesday released Rs 326.41 crore (Rs. 32641.66 lakhs) as monthly instalment of post-devolution revenue deficit grant for the period 2020-21.

Altogether Centre had released Rs. 6,195 crore to 14 states, including Nagaland, recommended by the 15th Finance Commission as grants-in-aid to cover deficit on post-devolution revenue account in 2020-21. A similar amount was released for Nagaland in August (April-October period).

Informing this on twitter, Union Finance minister, office said: “Based on the 15th Finance Commission interim recommendations, the Govt has released Rs 6,195.08 crore to 14 states on account of the eighth equated monthly installment of Post Devolution Revenue Deficit Grant.” 

The other states include Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal. 

The finance commission provides a mechanism for the Centre to compensate for revenue loss incurred by states, which is referred to as post devolution revenue deficit grant.

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