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Centre Releases Rs 9,871 Crore As Revenue Deficit Grant To 17 States
Ministry of Finance. (GettyImages)
The Centre on Thursday (6 January) released a sum of Rs 9,871 crore as the tenth instalment of the Post Devolution Revenue Deficit (PDRD) grant to 17 states.
So far, an amount of Rs 98,710 crore has been released to eligible states as Post Devolution Revenue Deficit Grant in the current financial year, the Finance Ministry said in a statement on Thursday.
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 Fifteenth Finance Commission to meet the gap in Revenue Accounts of the States post devolution.
The Commission has recommended PDRD grants to 17 States and the same is being released in monthly installments, the ministry said.
The States recommended for Post Devolution Revenue Deficit 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.
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 Rs 1,18,452 crore to 17 States in the financial year 2021-22.
Out of this, an amount of Rs 98,710 crore (83.33 per cent) has been released so far, the ministry said.
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