Business
Centre Releases Revenue Deficit Grant Of Rs 7,183 Crore To 14 States Including Andhra Pradesh, Kerala And West Bengal
Ministry of Finance. (GettyImages)
Th Centre has released the fourth monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states.
The grant has been released as per the recommendations of the Fifteenth Finance Commission.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23.
The states that have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 are : Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
The recommended grant is released by the Finance Ministry's Department of Expenditure to the recommended states in 12 equated monthly instalments.
With the release of fourth instalment for the month of July 2022, the total amount of Revenue Deficit Grants released to the states in 2022-23 has gone up to Rs 28733.67 crore, the Finance Ministry said in a release on Wednesday (6 July).
The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. The grants are released to the States as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the States post devolution.
The eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the Fifteenth Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.
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