NEW DELHI:
The Centre released the 2nd monthly instalment of the Post Devolution Revenue Deficit (PDRD) grant of Rs 86.08 crore to Meghalaya, on May 6.
Meghalaya got the grant along with 13 other states after the Department of Expenditure, Ministry of Finance released the funds. The Finance Commission has recommended a sum of Rs 1,033 crore under PDRD to Meghalaya for the year 2022-23.
As per the recommendations of the Fifteenth Finance Commission, funds amounting to 7,183.42 have been released to all 14 States.
Similarly, of the total Rs, 4,890 crore recommended to the Assam. The Department of Expenditure has released a sum of Rs 407.50 crore to Assam for the month of May.
Manipur received a sum of Rs 192.50 crore from the total recommended amount of Rs 2,310 crore for 2022-23. Mizoram received Rs 134.58 crore from the total recommended amount of Rs 1,615 crore for the same period. Nagaland received Rs 377.50 crore from the total amount of Rs 4,530 crore, Sikkim received Rs 36.67 crore from the total amount of Rs 440 crore, Tripura received Rs 368.58 crore from the total amount of Rs 4,423 crore.
Notably, the Fifteenth Finance 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 recommended grant will be released by the Department of Expenditure to the recommended States in 12 equated monthly installments. With this release, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs 14,366.84 crore.
The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. The grants are released to the States as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the States post-devolution.
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 Fifteenth 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 other States which have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 are Andhra Pradesh, Himachal Pradesh, Kerala, Punjab, Rajasthan, Uttarakhand and West Bengal.