•    Revenue Deficit Grant of Rs 7183.42 crore released 

•    Nagaland gets Rs 377.50 crore  for April 

New Delhi, April 8 (MExN): The Department of Expenditure, the Union Ministry of Finance on April 7 has released the first monthly installment of Post Devolution Revenue Deficit Grant (PDRDG) of Rs 7,183.42 crore to 14 States, including Nagaland. 

The grant has been released as per the recommendations of the Fifteenth Finance Commission, informed a statement released by the Ministry on Friday. 

As per the State-wise data provided in the statement, Nagaland’s received Rs 377.50 crore as the first installment for the month of April, 2022. 

The Fifteenth Finance Commission has recommended a total PDRDG of Rs. 86,201 crore to 14 States for the financial year 2022-23, it said. 

The recommended grant will be released by the Department of Expenditure to the recommended States in 12 equated monthly installments, it added. 

What is Post Devolution Revenue Deficit Grants?

As per the Finance Ministry, the PDRDG 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, it said. 

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 Fifteenth Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period, it added.

The States been recommended for the PDRDG 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.