The Department of Expenditure, Ministry of Finance, today released the fourth monthly installment of Post Devolution Revenue Deficit (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.
Of the total installment released for this month, Meghalaya got Rs 86.08 crore.
The PDRD Grant recommended by the Fifteenth Finance Commission for Meghalaya for the year 2022-23 is Rs 1033 crore.
So far, the total PDRD Grant released to the State during 2022-23 was Rs 344.33 crore.
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 states who have been recommended for the PDRD Grant by the Fifteenth Finance Commission during 2022-23 are Meghalaya, Manipur, Mizoram, Nagaland, Sikkim, Tripura, Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Punjab, Rajasthan, Uttarakhand and West Bengal.
The recommended grant is released by the Finance Ministry to the recommended states in twelve equated monthly installments.
With the release of the fourth installment for the month of July 2022, the total amount of Revenue Deficit Grants released to the 14 states in 2022-23 has gone up to Rs 28733.67 crore.
The grants are released to the 14 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 states after taking into account the assessed devolution during this period.
