Center releases Rs 7,183 cr post-devolution revenue deficit grant to 14 states

The Finance Ministry on Thursday released the monthly revenue deficit grant installment of Rs 7,183 crore for 14 states. With the release of the seventh installment for the month of October 2022, the total amount of revenue deficit grants released to states in the current fiscal has increased to Rs 50,282.92 crore, an official statement said.

Post Devolution Revenue Deficit Grant is released on the recommendation of the 15th Finance Commission to 14 states – Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand, and West Bengal.

“The Department of Expenditure of the Ministry of Finance on Thursday released the 7th monthly installment of Grant after Revenue Deficit Transfer (PDRD) of Rs 7,183.42 crore for 14 states,” the ministry said.

The eligibility of the states to get this grant and the amount of grant for the period 2020-21 to 2025-26 was decided by the 15th Finance Commission based on the difference between the assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.