FinanceLimeLight

Centre Releases Revenue Deficit Grant of Rs. 7183.42 Crore to 14 States

Total Revenue Deficit Grant released to States so far in current financial year has gone up to Rs. 50,283.92 crore. States will get a total Revenue Deficit Grant of Rs. 86,201 crore in 2022-23

Sharing is caring!

The Department of Expenditure, Ministry of Finance has on released the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States.  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 the financial year 2022-23. The recommended grant is released by the Department of Expenditure to the recommended States in 12 equated monthly instalments. With the release of 7th instalment for the month of October, 2022, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs. 50,283.92 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 2020-21 to 2025-26 was decided by the Fifteenth Finance 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.

State-wise details of Post Devolution Revenue Deficit Grant recommended for 2022-23 and the amount released to States as 7th  instalment are as under:

State-wise Post Devolution Revenue Deficit Grant (PDRDG) Released

(Rs in crore)

S. No.Name of State7th instalment released for the month of October, 2022.Total PDRDG released to States during 2022-23.
1Andhra Pradesh879.086153.58
2Assam407.502852.50
3Himachal Pradesh781.425469.92
4Kerala1097.837684.83
5Manipur192.501347.50
6Meghalaya86.08602.58
7Mizoram134.58942.08
8Nagaland377.502642.50
9Punjab689.504826.50
10Rajasthan405.172836.17
11Sikkim36.67256.67
12Tripura368.582580.08
13Uttarakhand594.754163.25
14West Bengal1132.257925.75

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: