FinMin releases Rs 9,871 cr to 17 states as revenue deficit grant

By: |
September 09, 2021 5:02 PM

The grants are released as per the recommendations of the 15th Finance Commission in monthly instalments to meet the gap in revenue accounts of the states post-devolution. The commission has recommended this grant to the 17 states during 2021-22.

Post Devolution Revenue Deficit Grant is provided to the states under Article 275 of the Constitution.Post Devolution Revenue Deficit Grant is provided to the states under Article 275 of the Constitution.

The Finance Ministry on Thursday said it has released the sixth monthly instalment of revenue deficit grant of Rs 9,871 crore to 17 states.

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 15th Finance Commission in monthly instalments to meet the gap in revenue accounts of the states post-devolution. The commission has recommended this grant to the 17 states during 2021-22.

The Department of Expenditure has released the sixth monthly instalment of Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore to the states on Thursday, the Finance Ministry said in a statement. With this instalment, a total amount of Rs 59,226 crore has been released to eligible states in the current financial year, it added.

The eligibility of states to receive this grant and the quantum of the 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, it noted.

The states recommended for PDRD Grant by the Fifteenth Finance Commission are: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

The Fifteenth Finance Commission has recommended a total PDRD Grant of Rs 1,18,452 crore to the 17 states in 2021-22. Out of this, an amount of Rs 59,226 crore (50 per cent) has been released so far.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Labour codes unlikely to be implemented this fiscal
2COVID-19 pandemic hit country’s economy hard: President Ram Nath Kovind
3Higher investment required in agri R&D: India says at G20 agri meet