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The central government has released the eighth monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 States, including Andhra Pradesh, Manipur, Meghalaya, Punjab and West Bengal among others for November, the Finance Ministry said in a statement on Monday. The grant has been released as per the recommendation 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. According to the press release issued by the ministry, the recommended grant is released by the Department of Expenditure to the recommended states in 12 equated monthly installments.
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“With the release of the 8th instalment for November, this year, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs 57,467.33 crore,” mentioned in the release.
The statement also stated that the eligibility of states to receive the PDRD 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.
The states that have been recommended for Post Devolution Revenue Deficit Grant for the eighth instalment by the Fifteenth Finance Commission during 2022-23 mentioned by the Ministry are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.
The PDRD 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 the Revenue Accounts of the States post-devolution.
Earlier, the Centre released the seventh PDRD grant in October for the 14 states. The Ministry stated that the total deficit grants released to states so far in 2022-23 were Rs 50,282.92 crore.
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