Our Reporter Dimapur, Oct. 6 (EMN): Nagaland received an amount of INR 377.50 crore on Thursday as the 7th instalment of Post Devolution Revenue Deficit (PDRD) grant from the department of Expenditure, Ministry of Finance.
The Ministry of Finance stated that the grant has been released as per the recommendations of the 15th Finance Commission to 14 states for the financial year 2022-23.
The states will get a total revenue deficit grant of INR 86,201 crore in 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, 2022, the total amount of revenue deficit grants released to the states in 2022-23 has gone up to INR 50,282.92 crore, it stated.
It may be mentioned that the PDRD grant is provided to states under Article 275 of the constitution and is 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 the15th 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.
State-wise details of PDRD Grant recommended for 2022-23 and the amount released to states as 7th instalment (in crore).
Name of State
7th instalment released for the month of Oct. 2022
