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Fund devolution to states
May 17 , 2020
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- The Finance Ministry on May 11 has released Rs. 6,195 crore to 14 states to fight against the spread and the treatment of COVID-19.
- The 15th Finance Commission recommended this grant.
- As per the Finance Ministry, the grant will help the state governments in taking preventive measures for the containment of Coronavirus.
- The grant is a mechanism that has been provided by the Finance Commission for compensation of any form of loss by the states from the centre.
- The grant forms the second-largest block of Finance Commission transfers after the assistance given to the local rural bodies.
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