Centre sanctions Revenue Deficit grant of Rs 9,871 crore to 17 states
The state recommended for the PDRD grant in the current financial year include Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
NEW DELHI:
The Ministry of Finance has released the fourth monthly instalment of the Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore to 17 states.
The state recommended for the PDRD grant in the current financial year include Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
With the latest release of funds under PDRD, the centre has allocated a total of Rs 39,484 crore to eligible states, said the Ministry of Finance on Thursday.
It may be mentioned that the PDRD grant is provided to states under Article 275 of the constitution, and they are allocated as per the recommendations of the 15th Finance Commission in monthly instalments.
The grants are meant to meet the gap in Revenue Accounts of states post-devolution based on the assessment of revenue and expenditure.
The 15th Finance commission has recommended a total amount of Rs 1,18,452 crore to these 17 states, of which Rs 39,484 crore has been released so far in four instalments.
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