- NET Web Desk
The Ministry of Finance has released the 1st monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant worth of Rs 1603.41 crores to 7 northeastern states, based on recommendations of the Fifteenth Finance Commission.
According to PIB report, the 15th Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 19241 crores to 7 northeastern states for the financial year 2022-23.
“The recommended grant will be released by the Expenditure Department to the recommended States in 12 equated monthly instalments.” – the release informs.
The 1st instalment released for Assam, Manipur & Meghalaya incorporates of – Rs 407.50 Crores, 192.50 Crores, and 86.08 Crores respectively. Mizoram & Nagaland includes – Rs 134.58 Crores & 377.50 Crores respectively.
However, the Centre has released Rs 36.67 Crores & Rs 368.58 Crores for Sikkim & Tripura respectively.
Its worthy to note that the PDRD grant are provided to the States under Article 275 of the Constitution.
Meanwhile, the states who have been recommended PDRD Grant by the 15th Finance Commission during 2022-23 are : Andhra Pradesh, Himachal Pradesh, Kerala, Punjab, Rajasthan, Uttarakhand and West Bengal.