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 On Monday, the Ministry of Finance's Department of Expenditure released the third monthly instalment of the Post Devolution Revenue Deficit (PDRD) Grant to 14 States, totaling Rs.7,183.42 crore. The award was given out in accordance with the Fifteenth Finance Commission's recommendations. 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 Department of Expenditure distributes the proposed grant to the recommended States in 12 equal monthly instalments. The total amount of Revenue Deficit Grants paid to the States in 2022-23 has increased to Rs.21,550.25 crore with the delivery of the third instalment for the month of June 2022. Article 275 of the Constitution provides the States with Post Devolution Revenue Deficit Grants. The grants are distributed to the states in accordance with the recommendations of successive Finance Commissions in order to close the deficit in the states' revenue accounts following devolution. The Fifteenth Commission determined the eligibility of States to receive this grant and the amount 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 period. The Fifteenth Finance Commission has suggested that Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal get Post Devolution Revenue Deficit Grant in 2022-23. The following are the state-by-state specifics of the Post-Devolution Revenue Deficit Grant suggested for 2022-23 and the amount released to States as the third instalment: State-wise Post Devolution Revenue Deficit Grant (PDRDG) Released (Rs in crore) [caption id="attachment_134333" align="alignnone" width="1114"] Revenue Deficit Grant of Rs.7,183.42 crore released to 14 States[/caption]