GoI releases Rs 7183.42 crore to 14 states as revenue deficit grant

GoI releases Rs 7183.42 crore to 14 states as revenue deficit grant – The Indian government has released an amount of Rs 7,183.42 crore as a revenue deficit grant to 14 states as per the recommendations of the 15th Finance Commission. The Department of Expenditure, Ministry of Finance released the 2nd monthly instalment of the Post Devolution Revenue Deficit (PDRD) grant to states.

• The Department of Expenditure (Ministry of Finance) will issue the grant to the recommended states in 12 equated monthly instalments (EMIs). 
• So far, the Department of Expenditure (Ministry of Finance) released the total amount of Rs 14,366.84 crore as Revenue Deficit Grants to the States in 2022-23.

Rs 7,183.42 crore as a revenue deficit grant to 14 states

• The 15th Finance Commission during 2022-23 recommended 14 states for the Post Devolution Revenue Deficit grant. The list of states is Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

Post Devolution Revenue Deficit (PDRD)

• Post Devolution Revenue Deficit (PDRD) grant to states was advised by the Fifteenth Finance Commission under Article 275 of the Indian Constitution.
• A total Post Devolution Revenue Deficit (PDRD) Grant of Rs 86,201 crore will be given to 14 states for the financial year 2022-23.

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