The Department of Expenditure, Ministry of Finance on Thursday released the first installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States.
The grant has been released as per the recommendations of the Fifteenth Finance Commission.
The 14 states are - Assam, Andhra Pradesh, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution.
As for Assam, the state received 4,890 crore for the year 2022-23. The first installment released for the month of April is Rs 407.50 crore.
The Fifteenth Commission had decided the eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 on the basis of the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period.