Business

Government releases revenue deficit grant for 17 states

The government has released the seventh installment of revenue deficit grant after transfer to the states.

The Finance Ministry has released a monthly installment of Rs 9,871 crore to 17 states under the Post Devolution Revenue Deficit (PDRD) grant as recommended by 15 states.th Finance Commission.

With the release of the seventh installment of funds during the current financial year, the total amount disbursed so far to these states is Rs 69,097 crore.

The states that are eligible for this grant include Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Punjab, Rajasthan, Tamil Nadu and West Bengal.

PDRD grants are given to the states in accordance with the provisions of Article 275 of the Constitution, to help them bridge the gap between the assessment of revenue and expenditure.

For 2021-22, 15th The Finance Commission had suggested a total PDRD grant of Rs 1,18,452 crore to 17 states, of which 58 per cent or Rs 69,097 crore has been released so far.

Back to top button