The Department of Expenditure today released the third monthly installment of the Post Devolution Revenue Deficit (PDRD) grant of Rs.7,183.42 crore to 14 states.
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The Department of Expenditure today released the third monthly instalment of the Post Devolution Revenue Deficit (PDRD) grant of Rs.7,183.42 crore to 14 states.
The grant has been released as per the recommendations of the 15th Finance Commission. The commission has recommended a total Post Devolution Revenue Deficit grant of Rs. 86,201 crore to 14 states for the financial year 2022-23.
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The recommended grant has been released to the recommended states in 12 equated monthly instalments. With the release of the third instalment for the month of June 2022, the total amount of Revenue Deficit Grants released to the states in 2022-23 has gone up to Rs. 21,550.25 crore.
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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 15th Finance Commission based on the gap between the assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.
The states which have been recommended Post Devolution Revenue Deficit Grant by the 15th Finance Commission during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
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