Categories: Economy

GoI releases Rs 7,183.42 crore to 14 states as revenue deficit grant

The central government has released Rs 7,183.42 crore as a revenue deficit grant to 14 states including Andhra Pradesh, West Bengal, Rajasthan, Punjab, Assam and Kerala. The Department of Expenditure, Ministry of Finance released the money. This is the 2nd monthly instalment of Post Devolution Revenue Deficit (PDRD) grant to states. The grant has been released as per the recommendations of the Fifteenth Finance Commission.

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The States which have been recommended Post Devolution Revenue Deficit grant by the Fifteenth Finance Commission during 2022-23 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

Key points:

Fifteenth Finance Commission recommended Post Devolution Revenue Deficit (PDRD) grant to states. Post Devolution Revenue Deficit (PDRD) grant is provided under Article 275 of the Indian Constitution.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit (PDRD) Grant of Rs 86,201 crore to 14 states for the financial year 2022-23.
The Department of Expenditure (Ministry of Finance) will release the grant to the recommended states in 12 equated monthly instalments (EMIs). With the recent release, the total amount of Revenue Deficit Grants released to the States in 2022-23 has gone up to Rs 14,366.84 crore.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.