Total Revenue Deficit Grant released to States so far in the current financial year has gone up to Rs. 57,467.33 crore
States will get a total Revenue Deficit Grant of Rs.86, 201 crore in 2022-23
New Delhi: The Department of Expenditure, Ministry of Finance, today released the 8thmonthly instalment of the Post Devolution Revenue Deficit (PDRD) Grant of Rs. 7,183.42 crores to 14 States.
With the release of the 8thinstalment for the month of November 2022, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs. 57,467.33 crores.
The grant has been released as per the recommendations of the Fifteenth Finance Commission which recommended a total PDRD Grant of Rs. 86,201 crore to 14 States for the financial year 2022-23. The recommended grant is released by the Department of Expenditure to the recommended States in 12 equated monthly instalments.
The PDRD Grants are provided to the States under Article 275 of the Constitution. The grants are released to the States as per the recommendations of the successive Finance Commissions to meet the gap in the Revenue Accounts of the States post-devolution.
The eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the Fifteenth Finance Commission based on the gap between the assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.
The States that have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.
State-wise details of the Post Devolution Revenue Deficit Grant recommended for 2022-23 and the amount released to States as the 8th instalment are as under:
(Rs. in crores)
– global bihari bureau
