The central government has released the seventh monthly installment of the post-devolution revenue deficit (PDRD) grant of Rs 7,183.42 crore to 14 states.
The Post Devolution Revenue Deficit Grant is released based on the recommendation of the 15th Finance Commission to 14 states that are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.
"The Department of Expenditure, Ministry of Finance has on Thursday released the 7th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states," the ministry said.
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 15th Finance Commission based on the gap between the assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.
The grant has been released as per the recommendations of the 15th Finance Commission. The panel had recommended a total grant of Rs. 86,201 crores to 14 states for 2022-23.
The recommended grant is released by the Department of Expenditure to the recommended states in 12 equated monthly installments.
With the release of the seventh installment for the month of October 2022, the total amount of revenue deficit grants released to the states in 2022-23 has gone up to Rs. 50,282.92 crores.
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