Nagaland

Centre Releases Rs 326.41 Crore To Nagaland As Monthly Revenue Deficit Grant

Centre Releases Rs 326.41 Crore To Nagaland As Monthly Post Devolution Revenue Deficit Grant

Kohima, March 11 (NEx): The Department of Expenditure, Ministry of Finance, Government of India on Wednesday released monthly Post Devolution Revenue Deficit (PDRD) Grant of Rs. 6,195.08 crore to 14 states. Nagaland state received Rs. 326.41 crore as the PDRD grant.

So far, an amount of Rs. 74,340 crore has been released to 14 States as Post Devolution Revenue Deficit Grant as recommended by the 15th Finance Commission on monthly proportionate basis in the current financial year, informed the Finance Ministry.

Nagaland State received Total Revenue Deficit Grant of Rs. 3916.94 crore in the current financial year (2020-21) in 12 instalments, stated the Finance Ministry data.

Along with Nagaland, Kerala received Rs 1,276.91 crore, Himachal Pradesh Rs 952.58 crore, Punjab Rs 638.25 crore, Assam Rs 631.58 crore, Andhra Pradesh Rs 491.41 crore, Uttarakhand Rs 423 crore, West Bengal Rs 417.75 crore, Manipur Rs. 235.33 cr, Meghalaya Rs 40.91 Cr, Mizoram Rs 118.53 Cr, Tripura Rs 269.66 cr, Tamil Nadu Rs. 335.41 cr and Sikkim 37.33 crore, as 12th installment of Grant-in-aid to cover deficit on post-devolution revenue account in 2020-21, said the Finance Ministry.

The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. The grants are released in monthly instalments as per the recommendations of the Fifteenth Finance Commission to meet the gap in Revenue Accounts of the States post devolution, it said.