5th monthly installment of Post-Devolution Revenue released
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Department of Expenditure under the Ministry of Finance has released 5th monthly installment of Post-Devolution Revenue Deficit, PDRD Grant of 9,871 crore rupees to the states yesterday. With the release of this installment, a total amount of 49 thousand 355 crore rupees has been released to eligible states as Post-Devolution Revenue Deficit Grant in the current financial year.
The Post-Devolution Revenue Deficit Grant is provided to the states under Article 275 of the Constitution. The grants are released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post-devolution. The Commission has recommended PDRD grant to 17 states during 2021-22.
The eligibility of states to receive this grant and the quantum of 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 the financial year 2021-22.
The Fifteenth Finance Commission has recommended a total Post-Devolution Revenue Deficit Grant of 1,18,452 crore rupees to 17 states in the financial year 2021-22. Out of this, an amount of 49,355 crore rupees has been released so far.
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