Kohima, May 06 (NEx): The Department of Expenditure, Ministry of Finance, Government of India on Thursday released the second monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871 crore for the year 2021-22 to 17 States.
With the release of second installment, a total amount of Rs. 19,742 crore has been released in the first two months of the current financial year as Post Devolution Revenue Deficit Grant to 17 states, it said.
Nagaland received Rs 379.75 as the second monthly installment of Post Devolution Revenue Deficit (PDRD) Grant for the year 2021-22. State received a total of Rs 759.5 crore as PDRD Grant in two installments, during the month of April and May, it stated.
The Centre provides the Post Devolution Revenue Deficit Grant to the States under Article 275 of the Constitution. The grants are released as per the recommendations of the Finance Commission in monthly installments to meet the gap in Revenue Accounts of the State’s post devolution.
The 15th Finance Commission has recommended Post Devolution Release Deficit grants to 17 States; 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 Post Devolution Revenue Deficit Grant of Rs. 1,18,452 crore to 17 States in the financial year 2021-22. The grant is released to the States in 12 monthly installments.
Along with Nagaland, Kerala received Rs 1657.58 crore, Himachal Pradesh Rs 854.08 crore, Punjab Rs 840.08 crore, Assam Rs 531.33 crore, Andhra Pradesh Rs 1438.08 crore, Uttarakhand Rs 647.67 crore, West Bengal Rs 1467.25 crore, Manipur Rs. 210.33 cr, Meghalaya Rs 106.58 Cr, Mizoram Rs 149.17 Cr, Tripura Rs 378.83 cr, Tamil Nadu Rs. 183.67 cr Haryana Rs 11 cr, Karnataka Rs 135.92 cr, Rajasthan Rs 823.17 and Sikkim 56.50 crore, as second installment of Grant-in-aid to cover deficit on post-devolution revenue account in 2021-22, said the Finance Ministry.