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Kohima, April 4: The Ministry of Finance, Department of Expenditure, Finance Commission Division has released Rs. 32641.66 lakh to Nagaland as Post Devolution Revenue Deficit Grant 2020-21.
The Director Finance Commission Division Director, Bhartendu Kumar Singh in a letter to the Chief Controller of Accounts, Department of Expenditure, Ministry of Finance stated that the approval of the competent authority for release of Rs. 615774.95 lakh as grant-in-aid to cover deficit on post devolution revenue account in 2020-21as recommended by the 15 Finance Commission on proportionate basis to 13 states.
The Chief Controller of Accounts has been requested to advise Reserve Bank of India, Nagpur to credit the amount to the Accounts of the concerned State Governmens.
The payments are adjustable in the Accounts of the Ministry of Finance under the Head 3601.07.101.01.00.31 Grand-in-aid (General) to cover deficit on revenue account in Demand No. 38-Transfer to States for the year 2020-21. (Page News Service)