The Union finance ministry on Wednesday released the fourth monthly instalment of post-devolution revenue deficit (PDRD) grant of Rs 7,183.42 crore to 14 states.
The Fifteenth Finance Commission has recommended a total PDRD grant of Rs 86,201 crore to 14 states for 2022-23. The recommended grant is released by the expenditure department to these states in 12 equated monthly instalments. With the release of fourth instalment for July, 2022, the total amount of revenue deficit grants released to the states in 2022-23 so far has gone up to Rs 28,733.67 crore, the ministry said in a statement.
The PDRD grants are provided to the states under Article 275 of the Constitution as per the recommendations of the successive Finance Commissions to bridge the gap between assessment of revenue and expenditure of the states after taking into account the assessed devolution during this period.
The states who have been recommended PDRD during 2022-23 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.