The finance ministry released the sixth monthly instalment of the revenue deficit grant to 14 states for the current fiscal year on Tuesday.
The grant was made available in accordance with the recommendations of the Fifteenth Finance Commission. For the fiscal year 2022-23, the Fifteenth Finance Commission recommended a total post-devolution revenue deficit grant of 86,201 crores to 14 States.
The grant has been awarded to the states of Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.
“The Department of Expenditure released the sixth monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of 7,183.42 crore to 14 states on Tuesday,” the ministry said in a statement.
The ministry stated that with the release of the sixth instalment for September, the total amount of PDRD grants released to states in 2022-23 stands at 43,100.50 crore.
The 15th Finance Commission determined the eligibility of states to receive this grant and the amount of grant for the period 2020-21 to 2025-26 based on the gap between the states’ assessed revenue and expenditure after taking into account the assessed devolution during this period.
