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17 states would get a grant of Rs 9,871 crore to cover income shortfalls.

17 states would get a grant of Rs 9,871 crore to cover income shortfalls.

17 states would get a grant of Rs 9,871 crore to cover income shortfalls. The Finance Ministry has issued the third monthly installment of the Post-Devolution Revenue Deficit (PDRD). That is of Grant to 17 states in the amount of Rs 9,871 crore for the fiscal year 2021-22.

With the distribution of this payment, a total of Rs 29,613 crore has been disbursed to states as Post Devolution Revenue Deficit Grant. In the first three months of the current fiscal year.

Therefore, Under Article 275 of the Constitution, the Centre provides the States with a Post-Devolution Revenue Deficit Grant. In accordance with the Finance Commission’s recommendations the funds will disbursed in monthly installments. So, that to close the deficit in the States’ Revenue Accounts after devolution.

The 15th Finance Commission has proposed funding to 17 states for Post-Devolution Deficit Reduction.

Andhra Pradesh. Assam Haryana Himachal Pradesh Karnataka Kerala Manipur Meghalaya Mizoram Nagaland Punjab Rajasthan Sikkim Tamil Nadu Tripura Uttarakhand West Bengal

So, Above are the states grant for PDRD.

Moreover, the Commission determined the eligibility of States for this award and the amount of the award based on the difference between the state’s assessed income and expenditure. The Commission also considered assessed devolution for the fiscal year 2021-22.

The 15th Finance Commission has proposed a total Post-Devolution Revenue Deficit Grant to 17 States of Rs. 1,18,452 crore for the fiscal year 2021-22. States get the funding in 12 monthly installments.

What do you think?

Written by Ankur J Kakoti

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