The Ministry of Finance has released the third monthly installment of revenue deficit grant of Rs 7,183 crore to 14 states.

The states receiving the grant are Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal, Andhra Pradesh.

A total Post Devolution Revenue Deficit Grant of Rs 86,201 crore was recommended by the Fifteenth Finance Commission for 14 states for the financial year 2022-23. This will be released in 12 equated monthly instalments.

"The Department of Expenditure has on Monday released the 3rd monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States," the ministry said in a statement.

With the release of the third instalment 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.