The Finance Ministry has released its 5th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 9,871 crore to the states on August 9. With the release of this installment, a total amount of Rs 49,355 crore has been released to entitled states as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year.

The PDRD  grant is provided to the States under Article 275 of the Constitution. The grants are released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post-devolution. The Commission has recommended PDRD grants to 17 States during 2021-22.

The 15th Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 1,18,452 crore to 17 States in the FY 2021-22. Out of this, an amount of Rs 49,355 crore has been released so far.

The States recommended for PDRD Grant by the 15th Finance Commission are as follows: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

Country's foreign exchange reserves hit record levels

Govt implementing scheme to promote tea sector: Anupriya Patel

Will withdraw its Prompt Corrective Action only if bank is 'fit case': RBI Governor