: Centre releases Rs. 9,871 cr revenue deficit grant to 17 States #FinanceIndia #StockMarketNEWS Centre releases Rs. 9,871 cr revenue deficit grant to 17 States New Delhi, Jul 8 (KNN) The Department

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Centre releases Rs. 9,871 cr revenue deficit grant to 17 States #FinanceIndia #StockMarketNEWS
Centre releases Rs. 9,871 cr revenue deficit grant to 17 States New Delhi, Jul 8 (KNN) The Department of Expenditure, Ministry of Finance released the 4th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871.00 crore to the States on Wednesday, according to an official statement.

With the release of this installment, a total amount of Rs. 39,484.00 crore has been released to eligible States as Post Devolution Revenue Deficit Grant in the current financial year.

The Post Devolution Revenue Deficit Grant is provided to the States under Article 275 of the Constitution.

The grants are released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post devolution. The Commission has recommended PDRD grants to 17 States during 2021-22.

The eligibility of States to receive this grant and the quantum of grant was decided by the Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution for the financial year 2021-22.

The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 1,18,452 crore to 17 States in the financial year 2021-22. Out of this, an amount of Rs. 39,484 crore (33.33%) has been released so far in 4 installments.

The States recommended for PDRD Grant by the Fifteenth Finance Commission are: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

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