: Rs. 9,871.00 cr released for 17 states as Revenue Deficit Grant #FinanceIndia #StockMarketNEWS Rs. 9,871.00 cr released for 17 states as Revenue Deficit Grant New Delhi, Oct 11(KNN) The Department
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Rs. 9,871.00 cr released for 17 states as Revenue Deficit Grant #FinanceIndia #StockMarketNEWS
Rs. 9,871.00 cr released for 17 states as Revenue Deficit Grant New Delhi, Oct 11(KNN) The Department of Expenditure, Ministry of Finance has released 7th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of INR 9,871.00 crore to the States here today. With the release of this installment, a total amount of INR 69,097.00 crore has been released to eligible States as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year.
The Post Devolution Revenue Deficit Grant is provided to the States under Article 275 of the Constitution. The grants are released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post devolution. The Commission has recommended PDRD grants to 17 States during 2021-22.
The eligibility of States to receive this grant and the quantum of grant was decided by the Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution for the financial year 2021-22.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of INR 1,18,452 crore to 17 States in the financial year 2021-22. Out of this, an amount of INR 69,097.00 crore (58.33%) has been released so far.
The States recommended for PDRD Grant by the Fifteenth Finance Commission are: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
State-wise details of the grant released this month and total amount of PDRD Grant released to the States in 2021-22 is annexed.
State-wise Post Devolution Revenue Deficit Grants Released