FinMin releases ?9,871 cr to 17 states as revenue deficit grant

Finance-Minister-Nirmala-Sitharaman

Union Finance Ministry on Thursday released the sixth monthly installment of Post Devolution Revenue Deficit (PDRD) grant of ?9,871 crore to the eligible states. With this, a total of ?59,226.00 crore has been released as PDRD grant this financial year.

The states recommended for the grant include Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

PDRD grant is released to the state under the Article 275 of the Constitution. The grants are released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in revenue accounts of the states post devolution.

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, an official release said.

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. Out of this, an amount of Rs. 59,226.00 crore (50%) has been released so far, it added.

The States recommended for PDRD Grant by the Fifteenth 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.

News Source:- Livemint

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