Revenue deficit grant of Rs 9,871 cr released to 17 states; Rs 69,097 cr disbursed so far this fiscal
As part of the seventh instalment, Kerala got the highest Rs 1657.58 crore, followed by West Bengal at Rs 1,467.25 crore. The 15th Finance Commission has recommended PDRD grants to 17 states during 2021-22.
- Oct 11, 2021,
- Updated Oct 11, 2021 4:39 PM IST
The Department of Expenditure, Ministry of Finance, released the seventh monthly instalment of Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore to 17 states today. With the release of this instalment, a total amount of Rs 69,097 crore has been released to eligible states as PDRD grant in the current financial year.
As part of the seventh instalment, Kerala got the highest Rs 1657.58 crore, followed by West Bengal at Rs 1,467.25 crore. States like Himachal and Punjab also received funds worth Rs 854.08 crore and Rs 840.08 crore, respectively. Haryana received the lowest grant of Rs 11 crore.
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The PDRD grant is released as per the recommendations of the Fifteenth Finance Commission in monthly instalments to meet the gap in revenue accounts of the states post-devolution. The commission had recommended PDRD grants for 17 states during 2021-22.
The eligibility of states to receive this grant, and the quantum of the grant was decided by the commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution for 2021-22.
The 15th Finance Commission recommended a total PDRD grant of Rs 1,18,452 crore to 17 states in 2021-22. Out of this, Rs 69,097.00 crore (58.33 per cent) has been released so far.
The states recommended for PDRD grant are 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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The Department of Expenditure, Ministry of Finance, released the seventh monthly instalment of Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore to 17 states today. With the release of this instalment, a total amount of Rs 69,097 crore has been released to eligible states as PDRD grant in the current financial year.
As part of the seventh instalment, Kerala got the highest Rs 1657.58 crore, followed by West Bengal at Rs 1,467.25 crore. States like Himachal and Punjab also received funds worth Rs 854.08 crore and Rs 840.08 crore, respectively. Haryana received the lowest grant of Rs 11 crore.
Also Read: India’s app developers, start-ups seek interim relief from CCI against Google’s new billing policy
The PDRD grant is released as per the recommendations of the Fifteenth Finance Commission in monthly instalments to meet the gap in revenue accounts of the states post-devolution. The commission had recommended PDRD grants for 17 states during 2021-22.
The eligibility of states to receive this grant, and the quantum of the grant was decided by the commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution for 2021-22.
The 15th Finance Commission recommended a total PDRD grant of Rs 1,18,452 crore to 17 states in 2021-22. Out of this, Rs 69,097.00 crore (58.33 per cent) has been released so far.
The states recommended for PDRD grant are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
Also read: Economic recovery gaining momentum, growth seen across sectors: Finance Ministry
Also Read: OneWeb, ISRO’s NSIL to collaborate for enhancing digital connectivity