The Centre has released the fourth monthly installment of Post Devolution Revenue Deficit Grant of Rs 106.58 crore to Meghalaya for the month of July.
The grant was released today by the Department of Expenditure, Ministry of Finance. With this, the total amount of Post Devolution Revenue Deficit Grant released to Meghalaya during 2021-22 is Rs 426.33 crore.
The Post Devolution Revenue Deficit Grant is provided to the states under Article 275 of the Constitution. The Fifteenth Finance Commission has recommended the grant to 17 states during 2021-22.
Besides Meghalaya, the states recommended for Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
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 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 the 17 states in the financial year 2021-22.
Out of this, an amount of Rs 39,484 crore (33.33 per cent) has been released so far to the 17 states in four installments.
