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Team Studycafe | May 7, 2022 | Views 85347

Revenue Deficit Grant of Rs. 7,183.42 crore released to 14 States

Revenue Deficit Grant of Rs. 7,183.42 crore released to 14 States

The Ministry of Finance’s Department of Expenditure released the second monthly instalment of the Post-Devolution Revenue Deficit (PDRD) Grant to 14 States on Friday, totaling Rs.7,183.42 crore. The funding was made available in accordance with the recommendations of the Fifteenth Finance Commission.

For the financial year 2022-23, the Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs.86,201 crore to 14 States. The proposed award will be distributed to the selected states in 12 equalised monthly instalments by the Department of Expenditure. With this distribution, the total amount of Revenue Deficit Grants made available to states for fiscal year 2022-23 has increased to Rs.14,366.84 crore.

Article 275 of the Constitution provides for Post-Devolution Revenue Deficit Grants to the states. The grants are distributed to the states in accordance with the recommendations of successive Finance Commissions in order to fill the gap in the states’ revenue accounts following devolution.

The Fifteenth Commission decided on the eligibility of states to receive this grant and the quantity of grant for the period 2020-21 to 2025-26 based on the difference between the state’s assessed revenue and expenditure after taking into account the assessed devolution during this time.

The following states have been recommended by the Fifteenth Finance Commission for Post-Devolution Revenue Deficit Grant during 2022-23: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.

The following are the state-by-state specifics of the Post-Devolution Revenue Deficit Grant suggested for 2022-23, as well as the amount disbursed to states as the second instalment:

State-wise Post Devolution Revenue Deficit Grants (PDRDG) released

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