Northeast

Centre releases Rs 7183.42 crore revenue deficit grant to 14 states; Rs 192.50 crore to Manipur

The Department of Expenditure under the Union Finance Ministry has so far released a total Revenue Deficit Grant to states in current financial year of Rs. 57,467.33 crore.

ByIFP Bureau

Updated 8 Nov 2022, 4:53 pm

(Representational Image: Unsplash)
(Representational Image: Unsplash)

 

The Centre on Monday released the eighth monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7183.42 crore to 14 states, including Rs 192.50 crore for Manipur as per the 15th Finance Commission recommendation.

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The Fifteenth Finance Commission recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23. The 14 states are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.

The Department of Expenditure under the Union Finance Ministry recommended grant to the recommended states in 12 equated monthly instalments.

With the release of the eight 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 57467.33 crore, including Rs 1,540 for the state.

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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 Finance 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 eighth monthly instalment of PDRD Grant amount for 2022-23 released for other Northeast states are: Assam - 407.50, Nagaland, Tripura - 368.58, Sikkim - 36.67, Meghalaya - 86.08, and Mizoram - 407.50

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PDRDPost Devolution Revenue Deficit grantrevenue deficit grant for Manipur

IFP Bureau

IFP Bureau

IMPHAL, Manipur

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