Finance Ministry releases Rs 9,871 cr to 17 states as revenue deficit grant

The money service on Thursday said it has delivered the 6th regularly scheduled payment of income deficiency award of Rs 9,871 crore to 17 states.

Post Devolution Revenue Deficit Grant is given to the states under Article 275 of the Constitution.

The awards are delivered according to the proposals of the fifteenth Finance Commission in regularly scheduled payments to meet the hole in income records of the states post-devolution. The commission has prescribed this award to the 17 states during 2021-22.

The branch of use has delivered the 6th regularly scheduled payment of Post Devolution Revenue Deficit (PDRD) award of Rs 9,871 crore to the states on Thursday, the money service said in an assertion.

With this portion, an aggregate sum of Rs 59,226 crore has been delivered to qualified states in the current monetary year, it added.

The qualification of states to get this award and the quantum of the award was chosen by the commission dependent on the hole between evaluation of income and use of the state in the wake of considering the surveyed devolution for the monetary year 2021-22, it noted.

The states suggested for PDRD Grant by the Fifteenth Finance Commission are: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

The Fifteenth Finance Commission has suggested an all out PDRD Grant of Rs 1,18,452 crore to the 17 states in 2021-22. Out of this, a measure of Rs 59,226 crore (50 percent) has been delivered up until now.

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