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Centre releases Rs 9,871 crore as revenue deficit grant to 17 states

ANI | Updated: Feb 04, 2022 18:58 IST

New Delhi [India], February 4 (ANI): The Union Finance Ministry said on Friday it has released Rs 9,871 crore as Post Devolution Revenue Deficit (PDRD) grant to 17 states.
This was the 11th installment of the PDRD grant released to the states, the Finance Ministry said in a statement.
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 Fifteenth Finance Commission to meet the gap in revenue accounts of the states post-devolution.
The Commission has recommended PDRD grants to 17 States and the same being released in equal monthly installments.
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 Fifteenth 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. So far, an amount of Rs 1,08,581 crore (91.6 per cent) has been released to eligible states as Post Devolution Revenue Deficit Grant in the current financial year, the Union Finance Ministry said. (ANI)