Centre Releases Rs 564 Crore To Revive Rural Economy In Odisha

Source: ANI

New Delhi: The Finance Ministry on Wednesday released Rs 564.50 crore as first instalment for the rural bodies in Odisha to revive economic activities. The Ministry has released total Rs 15,187 crore for 28 states.

“Based on the recommendations of the 15th Finance Commission, FinMinIndia today released Rs 15,187.50 crore to 28 states as the 1st instalment of Rural Local Bodies Basic (Untied) Grants for 2020-21,” the Office of Finance Minister Nirmala Sitharaman tweeted on the day.

“The state finance department shall transfer grants-in-aid within 10 working days of receipt from the Union government. Any delay beyond 10 working days will require the state government to release the same with interest,” the Department of Expenditure under the Finance Ministry said.

The basic grants can be used by the local bodies for location-specific needs. The fund cannot be used for payment of salary or establishment expenditure, the department said.

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