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Central govt releases Rs 6,195 crores to 14 states as devolution of taxes
Central govt releases Rs 6,195 crores to 14 states as devolution of taxes
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New Delhi [India], Septemeber 11 (ANI): The Centre has released Rs 6,195.08 crores to 14 states as the sixth equated monthly instalment of the Post Devolution Revenue Deficit Grant (PDRDG) on Friday as recommended by the 15th Finance Commission.
Office of Union Finance Minister Nirmala Sitharaman tweeted on Friday saying that this would provide them with additional resources during the coronavirus crisis.
"The government on September 10, 2020, released Rs 6,195.08 crore to 14 states as the sixth equated monthly instalment of the Post Devolution Revenue Deficit Grant as recommended by the 15th Finance Commission. This would provide them additional resources during the Corona crisis," it tweeted.
On September 5, the Economic Advisory Council of the 15th Finance Commission advised the Central government to treat the financial year 2020-21 and 2021-22 differently in comparison to the next four years. The statement from the former came after noticing that the latter is facing difficulties to disburse GST compensation to states on the low revenue collection. (ANI)
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