Finance ministry on (*14*) released the fourth instalment of income deficit grant of Rs 7,183 crore to 14 states for the present fiscal.
The states for which Post Devolution Revenue Deficit Grant has been really useful by the fifteenth Finance Commission throughout 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
“The Department of Expenditure has on (*14*) released the 4th month-to-month instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states,” the ministry stated in a press release.
The fifteenth Finance Commission has really useful a complete PDRD Grant of Rs 86,201 crore to 14 states for the monetary 12 months 2022-23. The grant is released in 12 equated month-to-month instalments.
The ministry stated that with the discharge of the fourth instalment for the month of July 2022, the whole quantity of PDRD grants released to the states in 2022-23 stands at Rs 28,733.67 crore.
The eligibility of states to obtain this grant and the quantum of grant for the interval from 2020-21 to 2025-26 was determined by the fifteenth Finance Commission primarily based on the hole between evaluation of income and expenditure of the states involved after making an allowance for the assessed devolution throughout this era.
(Only the headline and movie of this report could have been reworked by the Business Standard employees; the remaining of the content material is auto-generated from a syndicated feed.)
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