Meghalaya on Tuesday received Rs 86.08 crore, which is the 6th monthly installment of the Post Devolution Revenue Deficit (PDRD) Grant. A total of Rs 516.50 crore of PDRD Grant was released to the state in 2022-23.
The Department of Expenditure, Ministry of Finance on Tuesday released the sixth monthly installment of the Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states.
The grant has been released as per the recommendations of the Fifteenth Finance Commission.
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 is released by the Department of Expenditure to the recommended states in 12 equated monthly instalments.
With the release of the sixth instalment for September 2022, the total amount of Revenue Deficit Grants released to the states in 2022-23 has gone up to Rs 43,100.50 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 Finance Commission based on the gap between the assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.