Finance Ministry releases third instalment of revenue deficit grant of Rs 9,871 cr
The grants are released as per the recommendations of the Finance Commission in monthly instalments to meet the gap in Revenue Accounts of states post devolution.
New Delhi: The Finance Ministry on Wednesday said it has released third monthly instalment of revenue deficit grant of Rs 9,871 crore to 17 states.
With the release of this instalment, total Rs 29,613 crore has been released in the first three months of the current financial year as Post Devolution Revenue Deficit Grant to states.
“The Department of Expenditure on Tuesday released the 3rd monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 9,871 crore for the year 2021-22 to 17 states,” the ministry said in a statement.
The Centre provides PDRD grant to states under Article 275 of the Constitution. The grants are released as per the recommendations of the Finance Commission in monthly instalments to meet the gap in Revenue Accounts of states post devolution.
The 15th Finance Commission has recommended PDRD grants to 17 states — 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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