The Centre has today released Rs 86.08 crore to Meghalaya as the sixth monthly installment of Post Devolution Revenue Deficit (PDRD) Grant.
The Department of Expenditure, Ministry of Finance released the sixth monthly installment of PDRD Grant of Rs. 7,183.42 crore to 14 states. The grant has been released as per the recommendations of the Fifteenth Finance Commission.
With this release, the total PDRD Grant released to Meghalaya so far during 2022-23 is Rs 516.50 crore.
The states which have been recommended for PDRD Grant by the Fifteenth Finance Commission during 2022-23 are Meghalaya, Assam, Manipur, Mizoram, Nagaland, Sikkim, Tripura, Andhra Pradesh, Himachal Pradesh, Kerala, Punjab, Rajasthan, Uttarakhand and West Bengal.
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 is released by the Department of Expenditure to the recommended states in twelve equated monthly installments.
With the release of the sixth installment for the month of September 2022, the total amount of Revenue Deficit Grants released to the states in 2022-23 has gone up to Rs 43,100.50 crore.
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 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.
