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September 9, 2021

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

by CA Shivam Jaiswal in Corporate Law

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

Total Revenue Deficit Grant of Rs. 59,226 crore released to States in current financial year

The Department of Expenditure, Ministry of Finance on Thursday released the 6th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871.00 crore to the States.  With the release of this installment, a total amount of Rs. 59,226.00 crore has been released to the eligible States as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year.

State-wise details of the grant released this month and total amount of Post Devolution Revenue Grant released to the States in 2021-22 is annexed.

The Post Devolution Revenue Deficit Grant is provided to the States under Article 275 of the Constitution. The grants are being released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post devolution.  The Commission has recommended these grants to 17 States during 2021-22.

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 Post Devolution Revenue Deficit Grant of Rs. 1,18,452 crore to 17 States in the financial year 2021-22.  Out of this, an amount of Rs. 59,226.00 crore (50%) has been released so far. 

The States recommended 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.

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