The Commission had recommended a total post-devolution revenue shortfall grant of ₹86,201 crore to 14 states for fiscal year 2022-23, to be released in 12 monthly instalments
The Commission had recommended a total post-devolution revenue shortfall grant of ₹86,201 crore to 14 states for fiscal year 2022-23, to be released in 12 monthly instalments
The Treasury Department said on Friday it had released the first installment of the 7,183 crore revenue deficit subsidy to 14 states.
The grant was awarded to Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal as recommended by the 15th Finance Commission.
“The Treasury Department’s Spending Department on Thursday released the first monthly installment of the Post Devolution Revenue Deficit (PDRD) Grant of 7,183.42 crore to 14 states,” the department said in a statement.
The Commission had recommended a total post-devolution revenue shortfall grant of ₹86,201 crore to 14 states for fiscal year 2022-23, to be released in 12 monthly instalments.
The grants will be released to states according to the recommendations of successive finance commissions to fill the gap in states’ revenue accounts after decentralization.
