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India

Government of India releases revenue deficit grant to 17 states

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By Thejoto Nienu Updated: Jan 06, 2022 9:58 pm
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Our Correspondent
Kohima, Jan. 6 (EMN):
The Department of Expenditure under the Ministry of Finance on Thursday released the monthly Post Devolution Revenue Deficit (PDRD) grant of INR 9,871 crore to 17 states. This was the 10th installment of the PDRD grant released to the 17 states.

Nagaland was among the 17 states, receiving INR 379.75 crore in the 10th installment out of INR 3797. 50 crore released in 2021-2022.

According to the Ministry of Finance, till date, an amount of INR 98,710 crore has been released to eligible states as Post Devolution Revenue Deficit grant in the current financial year.

It stated, “The Post Devolution Revenue Deficit grants are provided to the states under Article 275 of the Constitution.  The grants are released to the States as per the recommendations of the Fifteenth Finance Commission to meet the gap in revenue accounts of the states post-devolution.  The Commission had recommended PDRD grants to 17 States. The grants are in the form of monthly installments”.

Besides Nagaland, the other states that have been recommended Post Devolution Revenue Deficit grant by the Fifteenth Finance Commission are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

The eligibility of states to receive this grant and the quantum of grant is 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, it stated.

The Ministry of Finance stated that the Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit grant of INR 1,18,452  crore to 17 states in the financial year 2021-22. Out of this, an amount of INR 98,710 crore (83.33%) has been released so far.

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By Thejoto Nienu Updated: Jan 06, 2022 9:58:06 pm