New Delhi: The Ministry of Finance on Thursday said that it has released the sixth monthly installment of the RS 9,871 Crore revenue deficit grant to 17 states.
Devolution revenue deficit grants are given to countries based on article 275 constitution.
Grants were released according to the recommendations of the 15th Finance Commission in monthly installments to meet the gap in the revenue revenue account of the Devolution.
The commission has recommended this grant to 17 countries for 2021-22.
The department of expenditure has released the sixth monthly installments from the Post Devolution Deficit Deficit (PDRD) RS 9,871 Crore to America on Thursday, the Ministry of Finance said in a statement.
With this installment, the total number of Rs 59,226 Crore has been released to countries that meet the requirements in the current financial year, he added.
The feasibility of the state to receive this grant and quantum grants was decided by the commission based on the gap between revenue assessment and state expenditure after taking into account the valued devolution for the book year 2021-22, noted.
Recommended countries for PDRD grants by the Minister of Finance Commission: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Mizoram, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
The fifteenth financial commission has recommended a PDRD grant of Rs 1.18,452 Crore to 17 countries in 2021-22.
From here, the number of Rs 59,226 Crore (50 percent) has been released so far.