State gets ₹ 192.50 cr revenue deficit grant
Source: Chronicle News Service / PIB
New Delhi, April 08 2022:
The Department of Expenditure, Ministry of Finance on Thursday released the first monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states including Rs 192.50 crore for Manipur.
The grant has been released as per the recommendations of the 15th Finance Commission.
The 15th Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to the 14 states for the financial year 2022-23 .
The recommended grant will be released by the department of expenditure to the recom mended states in 12 equated monthly instalments.
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.
The states which have been recommended for Post Devolution Revenue Deficit Grant by the 15th Finance Commission during 2022-23 are: Andhra Pradesh (Rs 10,549 crore), Assam (Rs 4890 crore), Himachal Pradesh (Rs 9377 crore), Kerala (Rs 13174 crore), Manipur Rs 2310 crore), Meghalaya Rs 1033 crore), Mizoram Rs 1615 crore), Nagaland Rs 4530 crore), Punjab (Rs 8274 crore), Rajasthan (Rs 4862 crore), Sikkim (Rs 440 crore), Tripura (4423 crore), Uttarakhand (Rs 7137 crore) and West Bengal (Rs 13587 crore) .
In the first instalment, the ministry released Rs 879.08 crore for Andhra Pradesh, Rs 407.50 crore for Assam, 781.42 crore for Himachal Pradesh, Rs 1097.83 crore for Kerala, Rs 192.50 crore for Manipur, Rs 86.08 crore for Meghalaya, Rs 134.58 crore for Mizoram, Rs 377.50 crore for Nagaland, Rs 689.50 crore for Punjab, Rs 405.17 crore for Rajasthan, Rs 36.67 crore for Sikkim, 368.58 crore for Tripura, Rs 594.75 crore for Uttarakhand and Rs 1132.25 crore West Bengal on Thursday.