(MENAFN- KNN India)
Govt releases revenue deficit grant of Rs 7,183.42 cr to 14 states
New Delhi, Oct 6 (KNN) As per the recommendations of the Fifteenth Finance Commission, the Department of Expenditure, Ministry of Finance on Thursday released the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States.
The recommended grant is released to the suggested States in 12 equated monthly instalments. With the release of 7th instalment for the month of October, 2022, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs. 50,282.92 crore.
The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution.
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 Fifteenth Finance 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 who have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 include Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal. (KNN Bureau)
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