Thursday, May 23, 2024
Top Stories

7th monthly instalment of PDRD grant of Rs 377.50 crore released to Nagaland

Nagaland News

DIMAPUR, OCTOBER 6: The Union Ministry of Finance on Thursday released Rs 377.50 crore to Nagaland as the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) grant.
Nagaland was among the 14 States who were recipients of the latest instalment of a total of Rs 7,183.42 crore released by the Centre as revenue deficit grant, as per the recommendations of the 15th Finance Commission.
With this, the total PDRD grant released to Nagaland so far stands at Rs 2642.50 crore, according to the Finance Ministry.
The 15th Finance Commission has recommended a total PDRD grant of Rs 86,201 crore to 14 States for the financial year 2022-23.
The recommended grant is released by the Department of Expenditure to the recommended States in 12 equated monthly instalments. With the release of 7th instalment for the month of October, the total amount of revenue deficit grants released to the States in 2022-23 has gone up to Rs 50,283.92 crore.
The PDRD 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 eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the 15th Finance Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.
The States, which have been recommended the PDRD grant by the 15th 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)

error: