The Department of Expenditure, Ministry of Finance, has released the 4th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871.00 crore to the States yesterday.
With the release of this installment, a total amount of Rs. 39,484.00 crore has been released to eligible States as Post Devolution Revenue Deficit Grant in the current financial year. Finance Ministry Releases Third Monthly Instalment of Post Devolution Revenue Deficit of Rs 9,871 Crore for the Year 2021–22 to 17 States
State-wise details of the grant released this month and total amount of PDRD Grant released to the States in 2021-22 is annexed.
The Post Devolution Revenue Deficit Grant is provided to the States under Article 275 of the Constitution. The grants are released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post devolution. The Commission has recommended PDRD grants to 17 States during 2021-22.
The eligibility of States to receive this grant and the quantum of grant was 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.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 1,18,452 crore to 17 States in the financial year 2021-22. Out of this, an amount of Rs. 39,484 crore (33.33%) has been released so far in 4 installments.
The States recommended for PDRD Grant by the Fifteenth Finance Commission are: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
(The above story first appeared on LatestLY on Jul 08, 2021 12:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).