SHILLONG, Nov 7: Meghalaya has received close to Rs 700 crore as Post Devolution Revenue Deficit (PDRD) Grant from the Department of Expenditure, Ministry of Finance during the current financial year.
A statement from the Ministry of Finance said a total of Rs 688.67 crore has been released for the state during 2022-23. This also includes an amount of Rs 86.08 crore released to the state as the eighth installment for the month of November.
The Ministry of Finance on Monday released the 8th monthly instalment of 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 PDRD Grants are provided to the states under Article 275 of the Constitution. The grants are released to the states as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the states post devolution.
The eligibility of states to receive this grant for the period from 2020-21 to 2025-26 was decided based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period.
