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.)
Dear Reader,
Business Standard has at all times strived exhausting to present up-to-date info and commentary on developments which might be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on how to enhance our providing have solely made our resolve and dedication to these beliefs stronger. Even throughout these troublesome instances arising out of Covid-19, we proceed to stay dedicated to conserving you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical points of relevance.
We, nonetheless, have a request.
As we battle the financial impression of the pandemic, we want your help much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from many of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We imagine in free, honest and credible journalism. Your help by way of extra subscriptions will help us practise the journalism to which we’re dedicated.
Support high quality journalism and subscribe to Business Standard.
Digital Editor