Finance Ministry releases Revenue Deficit Grant of Rs 9,871 Cr
Finance Ministry releases monthly Post Devolution Revenue Deficit Grant of Rs 9,871 cr to 17 States
Ministry of Finance has released the monthly Post Devolution Revenue Deficit (PDRD) Grant of 9,871 crore rupees to 17 States. This was the 11th instalment of the PDRD grant released to the States.
Ministry of Finance in a statement said that the grants are released to the States as per the recommendations of the Fifteenth Finance Commission to meet the gap in Revenue Accounts of the States post devolution.
The Commission has recommended PDRD grants to 17 States and the same being released in equal monthly installments.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of one lakh 18 thousand 452 crore rupees to 17 States in the financial year 2021-22.
The Ministry said, an amount of over one lakh 8 thousand crore rupees has been released to the eligible States so far.