CorporateFinanceInFocus

Revenue Deficit Grant of Rs 9871 Cr Released to 17 States

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The Central government released the third monthly instalment of Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore for the year 2021-22 to 17 states.

According to a statement released by the Ministry of Finance, with the release of the third instalment, a total amount of Rs 29,613 crore has been released in the first three months of the current financial year.

The Centre provides PDRD grants to states under Article 275 of the Constitution. The grants are released as per recommendations of the Finance Commission in monthly instalments to meet the gap in revenue accounts.

The 15th Finance Commission has recommended PDRD grant of Rs 118,452 crore 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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