DIMAPUR, AUGUST 3: The Department of Expenditure, Ministry of Finance, on Wednesday released the 5th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 377.50 crore to Nagaland. The grant has been released as per the recommendations of the Fifteenth Finance Commission.
The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 4,530 crore to Nagaland for the financial year 2022-23. The recommended grant is released by the Department of Expenditure to the State in 12 equated monthly installments.
With the release of 5th installment for the month of August, 2022, the total amount of Revenue Deficit Grants released to Nagaland in 2022-23 has gone up to Rs 1887.50 crore.
The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. The grants are released to the States as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the States post devolution.
The States that have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission during 2022-23 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
(Page News Service)
