Friday, October 29, 2021

Revenue deficit grant of Rs 9,871 crore releases to 17 states: Finance Ministry

The Finance Ministry on Wednesday, June 9, 2021, has released the third monthly installment of the Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore for the year 2021-22 to 17 states.

A total of Rs 29,613 crore has been released as a Post Devolution Revenue Deficit Grant to the states in the first three months of the current financial year with the release of the installment, according to a statement issued by the Finance Ministry on Wednesday.

The Centre provides Post Devolution Revenue Deficit Grant to the states under Article 275 of the Constitution. Grants are released as per the recommendations of the Finance Commission in monthly installments to bridge the gap in the Revenue Accounts of the states post-devolution.

The 15th Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 1,18,452 crore to 17 states. States recommended for Post Devolution Revenue Deficit Grant include Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand, and West Bengal.

The eligibility of the states to receive this grant and the quantum of the grant was decided by the Commission, based on the difference between the revenue and expenditure of the state. The transfer scheduled for the financial year 2021-22 by the Commission was also taken into account.

The grant was released to the states in 12 monthly installments.

- Advertisement -
Latest news

Over 102 crore vaccine doses provided by centre to states, UTs so far

Government has said that more than 102 crore Covid vaccine doses have been provided to States and Union Territories so far. Union Health Ministry...

Vice President Venkaiah Naidu expresses grief over loss of lives due to floods in Kerala

Vice President M. Venkaiah Naidu has expressed grief over the loss of lives due to floods in Kerala. In a tweet, Mr Naidu said,...

Five-day Naval Commander’s Conference begins today in New Delhi

The Navy’s top commanders will hold their biannual meeting today to discuss the force’s operational, logistical and material preparedness and future plans. Defence Minister...

National office bearers of BJP to meet in New Delhi today

BJP national office bearers will meet today at the party headquarters in New Delhi. Party President JP Nadda has called the meeting of all...
Related news

Over 102 crore vaccine doses provided by centre to states, UTs so far

Government has said that more than 102 crore Covid vaccine doses have been provided to States and Union Territories so far. Union Health Ministry...

Vice President Venkaiah Naidu expresses grief over loss of lives due to floods in Kerala

Vice President M. Venkaiah Naidu has expressed grief over the loss of lives due to floods in Kerala. In a tweet, Mr Naidu said,...

Five-day Naval Commander’s Conference begins today in New Delhi

The Navy’s top commanders will hold their biannual meeting today to discuss the force’s operational, logistical and material preparedness and future plans. Defence Minister...

National office bearers of BJP to meet in New Delhi today

BJP national office bearers will meet today at the party headquarters in New Delhi. Party President JP Nadda has called the meeting of all...