SHILLONG, July 6: The Ministry of Finance on Wednesday released Rs 86.08 crore to Meghalaya in the form of Post Devolution Revenue Deficit (PDRD) Grant.
It may be mentioned that Finance Ministry on Wednesday released the fourth instalment of revenue deficit grant of Rs 7,183 crore to 14 states, including Meghalaya, for the current fiscal.
With the latest instalment, Meghalaya has so far received a total of Rs 344.33 crore as PDRD Grant.
The PDRD Grant recommended by FC-XV for the year 2022-23 for Meghalaya is Rs 1,033 crore.
The states for which Post Devolution Revenue Deficit Grant has been recommended by the 15th Finance Commission during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
“The Department of Expenditure has on Wednesday released the 4th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states,” the ministry said in a statement.
The ministry said that with the release of the fourth instalment for the month of July, the total amount of PDRD grants released to the states in 2022-23 stands at Rs 28,733.67 crore.
The eligibility of states to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the 15th Finance Commission based on the gap between assessment of revenue and expenditure of the states concerned after taking into account the assessed devolution during this period.
