The Department of Expenditure under the Ministry of Finance has released the third monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states, according to a release by Ministry of Finance.
According to the release, the grant has been released as per the recommendations of the Fifteenth Finance Commission.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for FY22-23.
News agency ANI in a tweet has shared the state-wise list of Post Devolution Revenue Deficit Grant.
Revenue Deficit Grant (RDG) of Rs 7,183.42 crores released to 14 States. Total RDG released to States so far in the current financial year has gone up to Rs 35,917.08 crores. States will get a total RDG of Rs 86,201 crores in 2022-23: Ministry of Finance pic.twitter.com/jh1l10dPCB
— ANI (@ANI) August 3, 2022
The recommended grant is released by the Department of Expenditure to the recommended states in 12 equated monthly instalments. With the release of third instalment for the month of June, 2022, the total amount of Revenue Deficit Grants released to the states in 2022-23 has gone up to Rs 21,550.25 crore.
The Post Devolution Revenue Deficit Grants are provided to the states under Article 275 of the Constitution. The grants are released to the 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 FY20-21 to FY25-26 was decided by the Fifteenth Commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.
The states who have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.