Revenue Deficit Grant of Rs 7,183.42 crore released to 14 States
New Delhi, November 7, 2022
The Department of Expenditure, Ministry of Finance today released the 8th monthly instalment of the Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 States.
The grant has been released according to the recommendations of the Fifteenth 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. The recommended grant is released to the States in 12 equated monthly instalments.
With the release of the 8th instalment for the month of November 2022, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs 57,467.33 crore.
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 the 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 for which the Finance Commission has recommended Post Devolution Revenue Deficit Grant during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.