Finance Ministry released revenue deficit grant of Rs 9,871 crore to these 17 states

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The federal government on Friday introduced that the primary month-to-month installment of Put up Devolution Income Deficit (PDRD) grant has been distributed to 14 states. On Thursday, the Division of Expenditure, Ministry of Finance introduced that Rs 7,183.42 crore has been launched.

This grant was given in accordance with the suggestions of the Fifteenth Finance Fee. The Fifteenth Finance Fee has really helpful a complete publish devolution income deficit grant of Rs 86,201 crore for the monetary yr 2022-23. The grant will probably be paid by the Expenditure Division in 12 equated month-to-month installments.

Fiscal deficit grants are paid publish devolution to the states beneath Article 275 of the Structure to assist bridge the income hole generated after devolution.

The Fifteenth Fee decided the eligibility of states for this award from 2020-21 to 2025-26 primarily based on the distinction between income evaluation and state expenditure after accounting for the switch.

Put up-transfer income deficit grants have been really helpful for Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal for 2022-23.

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