Monday, October 3, 2022

Centre releases Rs. 9,871 cr PDRD grant to 17 states

Finance Ministry on Friday released monthly Post Devolution Revenue Deficit (PDRD) grant of Rs. 9,871 crore to 17 States. This was the 11th instalment of the PDRD grant released to the States.
The Fifteenth Finance Commission (FFC) has recommended grants to 17 States, including Nagaland, and the same being released in equal monthly instalments, the ministry said.
The eligibility of states to receive this grant and the quantum of grant was decided by the Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution for the financial year 2021-22.
The Fifteenth Finance Commission has recommended a total grant of Rs. 1,18,452 crore to 17 States in the financial year 2021-22. So far, an amount of Rs. 1,08,581 crore (91.6%) has been released in the current financial year.