The central government on Thursday released Rs 7,183.42 crore as post-devolution revenue deficit grant to 14 states including Kerala, Punjab, Rajasthan, Himachal Pradesh and West Bengal.
"The Department of Expenditure, Ministry of Finance has on Thursday released the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states," the ministry said.
Our Reporter Dimapur, Oct. 6 (EMN): Nagaland received an amount of INR 377.50 crore on Thursday as the 7th instalment of Post Devolution Revenue Deficit (PDRD) grant from the department of Expenditure, Ministry of Finance. The Ministry of Finance stated that the grant has been released as per the recommendations of the 15th Finance Commission to 14 states for the financial year 2022-23. The states will get a total revenue deficit grant of INR 86,201 crore in 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 INR 50,282.92 crore, it stated. It may be mentioned that the PDRD grant is provided to states under Article 275 of the constitution and is released to the states as per the recommendations of the successive Finance Commissions to
The Union Finance Ministry on Tuesday released the sixth 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 15th Finance .