NEW DELHI: On Tuesday, the Union Finance Ministry distributed the sixth monthly installment of the Post Devolution Revenue Deficit (PDRD) grant to 14 states, totaling Rs. 7,183.42 crore.The union ministry mentioned that with the release of the sixth installment for September, the cumulative amount of Post Devolution Revenue Deficit grants released to the states in 2022-23 stands at Rs.43,100.50 crore.
According to the 15th Finance Commission's recommendations, the grant has been made available.
A total PDRD award to 14 states for 2022–23 in the amount of Rs 86,201 crore has been recommended by the Commission.
The Department of Expenditure disburses the approved award in 12 equal monthly installments. The overall grant given to the states in 2022–23 has increased to Rs. 43,100.50 crore with the distribution of the sixth installment for September.
Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal are the states that have been suggested for the current fiscal year.
The 15th Finance Commission determined the eligibility of states to receive this grant and the amount of grant for the period from 2020–21 to 2025–26 based on the difference between the states' assessed revenue and expenditure after accounting for the estimated devolution during this time.
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