The Finance Ministry has released the first monthly installment of Post Devolution Revenue Deficit (PDRD) grant of Rs.7, 183.42 crore to 14 states including Meghalaya for the month of April.
The grant has been released as per the recommendations of the Fifteenth Finance Commission.
Meghalaya received Rs 86.08 crore as PDRD grant as the first installment for the month of April.
It may be mentioned that the Fifteenth Finance Commission has recommended an amount of Rs 1,033 crore for Meghalaya as PDRD grant for the financial year 2022-23.
The Fifteenth Finance Commission has recommended a total PDRD grant of Rs 86,201 crore to 14 states for the financial year 2022-23.
The recommended grant will be released by the Department of Expenditure to the recommended states in 12 equated monthly installments.
The PDRD 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 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 Fifteenth Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.
The states that have been recommended for the PDRD grant by the Fifteenth Finance Commission during 2022-23 are Meghalaya, Assam, Manipur, Mizoram, Nagaland, Tripura, Sikkim, Andhra Pradesh, Himachal Pradesh, Kerala, Punjab, Rajasthan, Uttarakhand and West Bengal.
