New Delhi [India], July 8 (ANI): The Department of Expenditure of the Ministry of Finance has released the 4th monthly installment of the Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871.00 crore to the 17 states on Wednesday.
With the release of this installment, a total amount of Rs 39,484.00 crore has been released to eligible states as PDRD grant in the current financial year, said the Ministry of Finance in a press statement on Thursday.
The states recommended for PDRD Grant by the Fifteenth Finance Commission include Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
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 Ministry further said, 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 39,484 crore (33.33 per cent) has been released so far in 4 installments. (ANI)