New Delhi, Nov 7 (KNN) The Department of Expenditure under the Ministry of Finance has released the eighth monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states, according to a release by Ministry of Finance.   

The grant has been released as per the recommendations of the Fifteenth Finance Commission. The Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 86,201 crore to 14 States for the financial year 2022-23.

The grant is released by the Department of Expenditure to the recommended States in 12 equated monthly instalments.

With the release of 8th instalment for the month of November, 2022, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs. 57,467.33 crore.

The PDRD are provided to the States under Article 275 of the Constitution. 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 Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period. 

The States recommended for Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.  (KNN Bureau)