Centre releases 10th installment of revenue deficit grant worth Rs 9,871 crore to 17 states

The finance ministry distributed Rs 9,871 crore in monthly revenue deficit grants to 17 states on Thursday. In the current fiscal year, a total of Rs 98,710 crore has been released to 17 states as a post-devolution revenue deficit grant.

Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand, and West Bengal are among the states that make up the state of Andhra Pradesh.

The grants are distributed in monthly instalments in accordance with the 15th Finance Commission’s recommendations to close the deficit in state revenue accounts following devolution. During the years 2021–22, the Commission has recommended this funding to 17 states.

The Commission determined the eligibility of states for this grant and the amount of the grant based on the deficit. The Commission determined the eligibility of states for this award and the amount of the grant based on the shortfall between the state’s assessed revenue and expenditure after taking into account the estimated devolution for 2021–22. In the financial year 2021-22, the 15th Finance Commission has recommended a PDRD allocation of Rs 1,18,452 crore to 17 states. So far, a total of Rs 98,710 crore (83.33 percent) has been issued, the statement continued.

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