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Finance Ministry Releases Revenue Deficit Grants Totalling Rs 9,871 Crore To 17 States

West Bengal received Rs 1,467.25 crore, implying the total sum received by the state in the current financial year totalled Rs 10,270.25 crore. Kerala, received Rs 1,657 crore and Andhra Pradesh received Rs 1,438 crore.

Finance Ministry Releases Revenue Deficit Grants Totalling Rs 9,871 Crore To 17 States
Finance Ministry Releases Revenue Deficit Grants Totalling Rs 9,871 Crore To 17 States
outlookindia.com
2021-10-11T20:06:03+05:30

Ministry of Finance released the post-devolution revenue deficit (PDRD) grant totalling Rs 9,871 crore to states on Monday. The ministry informed that the latest payment implied that a total of Rs 69,097 crore had been released to eligible states as PDRD grants in the present financial year. 

West Bengal received Rs 1,467.25 crore, implying the total sum received by the state in the current financial year totalled Rs 10,270.25 crore.  Kerala, received Rs 1,657 crore and Andhra Pradesh received Rs 1,438 crore. The total amount received in the current financial year by Kerala totalled Rs 11,603.08 crore, as for Andhra Pradesh it stood at Rs 10,066.58 crore. 

The PDRD grants are released to eligible states on a monthly basis by the ministry of finance to meet the gap in revenue accounts of the states post-devolution. The fifteenth finance commission had recommended PDRD grants be given to 17 states in the financial year 2021-22.  The commission determines eligibility and subsequently the quantum of the grant to be endowed to the states. This is based on the gap between revenue and expenditure of the state taking into annount the devolution for the financial year. 

"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. 69,097.00 crore (58.33%) has been released so far, " the ministry's press release stated. 

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