Revenue Deficit Grant of Rs 9,871 crore released to 17 States
Ministry of Finance

Revenue Deficit Grant of Rs 9,871 crore released to 17 States

New Delhi, July 8, 2021

The Department of Expenditure of the Finance Ministry has released the fourth monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 9,871.00 crore to the States.

With the release of this instalment on Wednesday, a total amount of Rs 39,484.00 crore has been released to eligible States as Post Devolution Revenue Deficit Grant in the current financial year, an official statement said.

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 5th Finance Commission in monthly instalments 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 the 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 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 39,484 crore (33.33%) has been released so far in four instalments.

The States recommended for PDRD Grant by the 15th 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.

NNN

No stories found.
NetIndian
www.netindian.in