News Brief
Govt Releases Rs 9,871 Crore As Post Devolution Revenue Deficit Grant To 17 States
Ministry of Finance. (GettyImages)
The Centre on Thursday (9 September) released the sixth monthly installment of Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore to the states.
With the release of this installment, a total amount of Rs 59,226 crore has been released to the eligible states as PDRD grant in the current financial year, the Finance Ministry said in a statement.
The PDRD grant is provided to the States under Article 275 of the Constitution. The grants are being 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 ministry said.
The Commission has recommended these grants to 17 States during 2021-22, it added.
The states recommended for PDRD Grant by the Fifteenth Finance Commission include 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 PDRD 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. 59,226.00 crore (50 per cent) has been released so far, the ministry said.
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