Revenue deficit grant of INR 379.75 crore released to Nagaland

Dimapur, Oct. 11 (EMN): The Union Ministry of Finance on Monday released the 7th monthly instalment of INR 9,871 crore to 17 states, including Nagaland as Post Devolution Revenue Deficit (PDRD) Grant. 

With the release of this instalment, a total amount of INR 69,097.00 crore has been released so far to eligible states as PDRD in the current financial year, the Ministry of Finance stated.

Nagaland’s share of 7th monthly instalment released in October is INR 379.75 crore, taking the total amount released to the state during 2021-2022 to INR 2658.25 crore.

Among the north-eastern states, Assam received INR 531.33 crore as the 7th instalment; Manipur, INR 210.33 crore; Meghalaya, INR 106.58 crore; Mizoram, INR 149.17 crore; Sikkim, INR 56.50 crore; and Tripura, INR 378.83.

The grants are released as per the recommendations of the 15th Finance Commission in monthly installments to meet the gap in revenue accounts of the states post devolution and 17 states have been recommended for the grants during 2021-22.

The commission also decides quantum of grant 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.

The states recommended for PDRD Grant are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.