The Union Finance Ministry said on Monday it has released Rs 7,183.42 crore as post devolution revenue deficit grant to 14 states including Andhra Pradesh, Assam, Kerala, Punjab, Rajasthan, Uttarakhand, and West Bengal.
This is the 3rd monthly installment of the Post Devolution Revenue Deficit (PDRD) grant to states, released as per the recommendations of the fifteenth Finance Commission. Total revenue deficit grant released to states so far in the current financial year has gone up to Rs 21,550.25 crore, according to data released by the Finance Ministry.
The 15th Finance Commission has 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 to the recommended States in 12 equated monthly installments.
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 the 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 that have been recommended Post Devolution Revenue Deficit Grant by the fifteenth Finance Commission during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
( With inputs from ANI )
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