New Delhi, Sep 9 (SocialNews.XYZ) The Centre on Thursday released Rs 9,871 crore to state governments under the sixth monthly installment of the Post Devolution Revenue Deficit (PDRD) grant.
According to the Finance Ministry, with this installment, a total amount of Rs 59,226.00 crore has been released to the eligible states as PDRD grant in the current financial year.
This 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 ministry said.
"The Commission has recommended these grants to 17 states during 2021-22."
As per the ministry, 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 PDRD grant of Rs 118,452 crore to 17 states in the FY22.
"Out of this, an amount of Rs 59,226 crore (50 per cent) has been released so far."
Source: IANS
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