'Revenue Deficit Grant' Worth Over Rs 7,180 Crores Released To Seven Northeastern States

‘Revenue Deficit Grant’ Worth Over Rs 7,180 Crores Released To Seven Northeastern States

6th May 2022

Posted in Assam, Featured, Manipur, Meghalaya, Mizoram, Nagaland, Northeast, Sikkim, Tripura

NET Web Desk

The Ministry of Finance today released the 2nd monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant worth of Rs 7183.42 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. 1603.41 crores to 7 northeastern states for the financial year 2022-23.

“The recommended grant will be released by the Department of Expenditure to the recommended States in 12 equated monthly instalments.” – the release informs.

The 2nd 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 which 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.