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Finance Ministry releases ₹7,183 crore grant to 14 States

Finance Ministry releases ₹7,183 crore grant to 14 States

The Finance Ministry on Thursday released the monthly instalment of revenue deficit grant of ₹7,183 crore to 14 States. 

With the release of seventh instalment for the month of October, 2022, the total amount of Revenue Deficit Grants released to the States in current fiscal has gone up to ₹50,282.92 crore, an official statement said.

The Post Devolution Revenue Deficit Grant is released based on the recommendation of the 15th Finance Commission to 14 States — Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

“The Department of Expenditure, Ministry of Finance has on Thursday released the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of ₹7,183.42 crore to 14 States,” the Ministry said.

The eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the 15th Finance Commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.

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