PDRD released, state gets ₹ 192.50 crore
Source: Chronicle News Service / PIB Delhi
New Delhi, May 06 2022:
The Department of Expenditure, Ministry of Finance has on Friday released the second monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 States.
Among the 14 states, Manipur, which has an entitlement of Rs 2310 crore grant for the financial year 2022-23, received Rs 192.50 crore grant in the second monthly instalment.
The 15th Finance Commission recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23.The recommended grant is released by the department of expenditure in 12 equated monthly instalments.
With this release, the total amount of Revenue Deficit Grants released to the states in 2022-23 has gone up to Rs 14,366.84 crore.
The Grants are provided to the states under Article 275 of the Constitution 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 15th Finance Commission based on the gap between assessment of revenue and expenditure of the state concerned after taking into account the assessed devolution during this period.
The states which have been recommended Post Devolution Revenue Deficit Grant by the 15th FC during 2022-23 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.