News Brief
Govt Releases Rs 9,871 Crore As Post Devolution Revenue Deficit Grant To 17 States
Ministry of Finance. (GettyImages)
The government on Wednesday (7 July) released Rs 9,871 crore as the fourth monthly instalment of the Post Devolution Revenue Deficit (PDRD) grant to 17 states.
With the release of this instalment, a total amount of Rs 39,484.00 crore has been released to eligible states as Post Devolution Revenue Deficit Grant in the current financial year, the Finance Ministry said on Thursday (8 July).
According to the ministry, 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 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 39,484 crore (33.33%) has been released so far in 4 installments, it added.
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.
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