Nagaland receives INR 377.50 crore as PDRD Grant
Dimapur, April 8 (EMN): Nagaland received INR 377.50 crore as Post Devolution Revenue Deficit (PDRD) Grant out of INR 7,183.42 crore released to 14 states for the financial year 2022-23 by the department of Expenditure, ministry of Finance on April 7.
Ministry of Finance on Friday (April 8) updated that the amount released is the first monthly instalment of PDRD Grant. The grant has been released as per the recommendations of the Fifteenth Finance Commission.
The recommended grant for Nagaland (2022-23) was INR 4,530 crore and the amount released as first instalment for the month of April, 2022 was INR 377.50 crore, as revealed by ministry of Finance. The grant will be released by the department of Expenditure in 12 equated monthly instalments.
As per the report, the recommended states for PDRD Grant are – Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
“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 successive Finance Commissions to meet the gap in Revenue Accounts of the states post devolution” the Finance ministry stated.
The report further stated that 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.
“1st monthly instalment of Post Devolution Revenue Deficit Grant of INR .7,183.42 crore released to Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal”, the Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman tweeted on Friday.