14 countries to receive Rs.7,183.42 crore on Revenue Deficit Grant


New Delhi: The Expenditure Department of the Ministry of Finance on Thursday released the seventh monthly installment of the Post-Transfer Revenue Deficit Grant (PDRD) worth Rs 7,183.42 crore to 14 countries. The grant has been edited based on the recommendations of the Fifteenth Finance Committee.

The Fifteenth Finance Committee has recommended a lump-sum grant for revenue deficit after transfer of authority of Rs. 86,201 crore to 14 countries for the 2022-23 fiscal year.

The scholarship is issued by the Department of Expenditure to 14 states in 12 equal monthly installments. With the issuance of the seventh installment for October 2022, the total amount of revenue deficit grants issued to states in 2022-23 has increased to Rs. 50282.92 crores.

Revenue deficit grants are granted after the transfer of power to the states under Section 275 of the Constitution. Grants are made to the states in accordance with the recommendations of successive fiscal committees to bridge the gap in the states’ revenue accounts after the transition of power.

The eligibility of countries to receive this grant and the amount of the grant for the period from 2020-21 to 2025-26 were determined by the Fifteenth Finance Committee based on the gap between the assessment of revenues and expenditures of the state after taking into account the estimated. delegate during this period.

The states which have recommended the granting of revenue shortfall after transfer of authority by the 15th Finance Commission during 2022-2023 are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.

Read full article here

Leave a Reply