Guwahati, June 09 (NKTV): The Department of Expenditure, Ministry of Finance on Tuesday released the third monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871 crore for the year 2021-22 to 17 States.
With the release of third installment, a total amount of Rs 29, 613 crore has been released in the first three months of the current financial year as Post Devolution Revenue Deficit Grant to the states.
The Centre provides the Post Devolution Revenue Deficit Grant to the States under Article 275 of the Constitution and the grants are released as per the recommendations of the Finance Commission in monthly installments to meet the gap in Revenue Accounts of the states post devolution.
The 15th Finance Commission has recommended Post Devolution Release Deficit grants to 17 states.
The states recommended for Post Devolution Revenue Deficit Grant are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
The 15th 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. The grant is released to the States in 12 monthly installments.
Among the Northeastern states, Assam has received a grant of Rs 531.33 crore, Manipur 210.33 crore, Meghalaya Rs 106.58 crore, Mizoram Rs 149.17 crore, Nagaland Rs 379.75 crore, Sikkim Rs 56.50 crore and Tripura Rs 378.83 crore respectively.