The Finance Commission provides a mechanism for the Centre to compensate for any revenue loss incurred by states, which is referred to as post devolution revenue deficit grant.
The video conference comes amidst indications that the central government may extend the lockdown across the country beyond April 14 after several states have favoured the extension to contain the fast-spreading virus.
The Northern and Eastern Grids tripped again on Tuesday, leading to power failure in as many as 14 states of the country affecting hundreds of millions of people.