Revenue Deficit Grant Worth Over Rs 1,603 Crores Released To 7 Northeastern States 

 

  • NET Web Desk

The Ministry of Finance today released the 5th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant worth of Rs 1,603.41 crores to 7 northeastern states, based on recommendations of the Fifteenth Finance Commission.

According to PIB report, “the Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 86,201 crore to 14 States for the financial year 2022-23. The recommended grant is released by the Department of Expenditure to the recommended States in 12 equated monthly instalments. With the release of 5th instalment for the month of August, 2022, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs. 35,917.08 crore.”

“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 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 release further reads.

The 5th 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.