With the release of this installment, a total amount of Rs 74,340 crore has been released to eligible states as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year, the ministry of finance said in a statement.
100 per cent of the amount recommended by the Fifteenth Finance Commission to 14 states has been released by the central government.
The Fifteenth Finance Commission had recommended a total Post Devolution Revenue Deficit Grant of Rs 74,340 crore to 14 States in the financial year 2020-21.
The revenue deficit grants are provided to the states under Article 275 of the Constitution and are released in monthly instalments as per the recommendations of the Fifteenth Finance Commission to meet the gap in revenue of the states post the devolution.
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 2020-21.
The States who have been recommended revenue deficit grant by the commission are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
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