SHILLONG, Feb 5: Meghalaya has received Rs 450.09 crore as post-devolution revenue deficit (PDRD) grant for the financial year 2020-21.
The state has received PDRD grant worth Rs 40.92 crore in February as the 11th installment.
PDRD grants are provided to the states under Article 275 of the Constitution and the grants are released in monthly installments as per the recommendations of the 15th Finance Commission to meet the gap in revenue accounts of the states post devolution.
The Commission has recommended PDRD grants to 14 states.
The eligibility of states to receive this grant and the quantum of grant was decided by the Commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution for the financial year 2020-21.
The 15th Finance Commission has recommended a total PDRD grant of Rs 74,341 crore to 14 states in the financial year 2020-21. Of this, an amount of Rs 68,145.91 crore (91.66 per cent) has been released so far.
Apart from Meghalaya, the states that have been recommended for PDRD grant by the 15th Finance Commission are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
Altogether, the department of expenditure, ministry of finance has released a monthly PDRD grant of Rs 6,195.08 crore to the states.
So far, an amount of Rs 68,145.91 crore has been released to eligible states as PDRD grant in the current financial year.