The union government has released the sixth monthly installment of post- tax devolution revenue deficit (PDRD) grant of Rs 9,871 crore to 17 states.
With the release of this installment, total Rs 59,226 crore has been released to the eligible states as PDRD so far in the current financial year.
In the latest tranche, Kerala (Rs 1,658 crore), West Bengal (Rs 1,467 crore) and Andhra Pradesh (Rs 1,438 crore) are the top three recipient states.
The PDRD is provided to the states under Article 275 of the Constitution.
The grants are being 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 these grants to 17 states during 2021-22.
The Commission has recommended a total PDRD of Rs 1,18,452 crore to 17 states in 2021-22.
Out of this, 50% has been released so far.