Meghalaya today got Rs 106.58 crore as the seventh monthly monthly installment of Post Devolution Revenue Deficit Grant to the State.
With this, total amount of Post Devolution Revenue Deficit Grant released to the State during 2021-22 is Rs 746.08 crore.
The Department of Expenditure, Ministry of Finance has released the seventh monthly installment of Post Devolution Revenue Deficit Grant of Rs 9,871.00 crore to 17 states including Meghalaya.
With the release of this installment, a total amount of Rs 69,097.00 crore has been released to 17 eligible states as Post Devolution Revenue Deficit Grant in the current financial year.
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 grant to 17 states during 2021-22.
The eligibility of states to receive this grant and the quantum of grant was decided by the Finance 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 69,097.00 crore (58.33 per cent) has been released so far.
The States recommended for Post Devolution Revenue Deficit 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.
