The commission had recommended a total post devolution revenue deficit grant of ₹86,201 crore to 14 states for the financial year 2022-23, which would be released in 12 monthly installments.
The commission had recommended a total post devolution revenue deficit grant of ₹86,201 crore to 14 states for the financial year 2022-23, which would be released in 12 monthly installments.
The Finance Ministry on Friday said it has released the first installment of revenue deficit grant of Rs 7,183 crore to 14 states.
Grants have been released to Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal as per the recommendations of the 15th Finance Commission.
“Department of Expenditure, Ministry of Finance on Thursday released the first monthly installment of Post Devolution Revenue Deficit (PDRD) grant of Rs 7,183.42 crore to 14 states,” the ministry said in a statement.
The commission had recommended a total post devolution revenue deficit grant of Rs 86,201 crore to 14 states for the financial year 2022-23, which would be released in 12 monthly installments.
To bridge the gap in the revenue accounts of the states, grants are released to the states as per the recommendations of successive Finance Commissions.