Tuesday, August 16, 2022

State gets Rs.377.50 cr PDRD grant

As per the recommendations of the Fifteenth Finance Commission, the Ministry of Finance on Wednesday released the 5th monthly instalment of Post Devolution Revenue Deficit (PDRD) grant of Rs. 7,183.42 crore to 14 states including Nagaland.
As per the state-wise details of the grant released, Nagaland has received Rs. 377.50 crore in July 2022 as fifth instalment and total PDRD Grant released in 2022-23 is Rs. 1887.50 crore. The 15th FC has recommended a total PDRD grant of Rs. 86,201 crore to 14 States for the financial year 2022-23. The recommended grant is released by the department of expenditure to the recommended states in 12 equated monthly instalments.
With the release of 5th instalment for the month of August, 2022, the total amount of revenue deficit grants released to the States in 2022-23 has gone up to Rs. 35,917.08 crore.
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 FCs to meet the gap in revenue accounts of the states post devolution.


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