Finance Ministry releases revenue deficit grant of over 7000 Crore Rupees to 14 states

• Ministry of Finance has released the 8th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of over 7 thousand 183 crore rupees to 14 States.  They include Andhra Pradesh, Assam, Kerala, Meghalaya, Mizoram, Punjab, Rajasthan, Sikkim, Uttarakhand, and West Bengal. Of the total amount,  around 1,098crore rupees has been released to Kerala, 879 crore rupees to Andhra Pradesh, and  689 crore rupees to Punjab
• The grant has been released as per the recommendations of the Fifteenth Finance Commission to meet the gap in Revenue Accounts of the States post-devolution.
• The Commission has recommended a total Post Devolution Revenue Deficit Grant of  86,201crore  to 14 States for the financial year 2022-23. With the release of 8th installment for November this year, the total amount released to the States has gone up to 57 thousand 467 crore rupees.

 

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Published date : 08 Nov 2022 06:49PM