The Finance Ministry has today released Rs 86.08 crore to Meghalaya as the fifth monthly installment of Post Devolution Revenue Deficit (PDRD) Grant.
It may be mentioned that the PDRD Grant recommended for Meghalaya for 2022-23 is Rs 1033 crore. The total amount of the grant released so far to the State is Rs 430.42 crore.
The Post Devolution Revenue Deficit Grants are provided to the states under Article 275 of the Constitution. The grants are released to the states as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the states post devolution.
The States which have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 are Meghalaya, Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
The eligibility of the states to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the Fifteenth Finance Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.
