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Coronavirus: Finance Ministry releases Rs 17,287 crore to states

Of this amount, Rs 11,092 crore is towards State Disaster Response Mitigation Fund (SDRMF) to all states

twitter-logoPTI | April 3, 2020 | Updated 23:16 IST
Coronavirus: Finance Ministry releases Rs 17,287 crore to states
Union Finance Minister Nirmala Sitharaman

The Finance Ministry on Friday released  Rs 17,287 crore to states to enhance their financial resources during the COVID-19 crisis.

Of this amount, Rs 11,092 crore is towards State Disaster Response Mitigation Fund (SDRMF) to all states.

An amount of Rs 6,195 crore has been released as ''Post Devolution Revenue Deficit Grant'' to 14 states namely Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

"The  @FinMinIndia today released a total of Rs 17,287.08 crore to different States to enhance their financial resources during the #COVID19 crisis, " the Office of Finance Minister Nirmala Sitharaman said in a tweet.

This includes Rs 6,195.08 crore on account of ''revenue deficit grant'' under 15th Finance Commission recommendations to 14 states.

The remaining Rs 11,092 crore is to all states as advanced payment of Central share of first instalment of SDRMF. This includes Rs 1,611 crore to Maharashtra, Rs 966 crore to Uttar Pradesh, Rs 910 crore to Madhya Pradesh, Rs 708 crore to Bihar, Rs 802 crore to Odisha, Rs 740.50 crore to Rajasthan, and Rs 505.50 crore to West Bengal, it added.

Also Read: Coronavirus impact: Morgan Stanley expects deep global recession, cuts growth by 2.3% for H1FY20

Also Read: Coronavirus impact: Fitch cuts India's growth forecast to 5.1% for FY21

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