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Revenue Deficit Grant of Rs 9,871 Cr released to 17 states
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SME Times News Bureau | 11 Oct, 2021
The Ministry of Finance on Monday released the seventh 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 69,097 crore has been released to eligible states in
the current financial year.
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 15th 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
eligibility of States to receive this 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 15th
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 69,097.00 crore (58.33 per cent)
has been released so far.
The States recommended for the 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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