The central authorities on June 6 launched Rs 7,183.42 crore as income deficit grant to 14 states together with Andhra Pradesh, West Bengal, Rajasthan, Punjab, Assam and Kerala.
The Division of Expenditure, Ministry of Finance, launched the cash. That is the third month-to-month instalment of the Submit Devolution Income Deficit (PDRD) grant to states.
The grant has been launched as per the suggestions of the Fifteenth Finance Fee, the Union Ministry of Finance mentioned in a press release.
The states which have been beneficial PDRD grant throughout 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
The Fifteenth Finance Fee has beneficial a complete PDRD Grant of Rs 86,201 crore to 14 states for the monetary yr 2022-23.
The beneficial grant is launched by the Division of Expenditure to the beneficial states in 12 equated month-to-month instalments. With the discharge of the third instalment for the month of June 2022, the full quantity of such grants launched to the states in 2022-23 has gone as much as Rs 21,550.25 crore.
The PDRD grants are offered to the states beneath Article 275 of the Structure. The grants are launched to the states as per the suggestions of the successive Finance Commissions to satisfy the hole in income accounts of the states post-devolution.
The eligibility of states to obtain this grant and the quantum of grant for the interval from 2020-21 to 2025-26 was determined by the Fifteenth Fee primarily based on the hole between the evaluation of income and expenditure of the state after taking into consideration the assessed devolution throughout this era.
(Edited by : Shoma Bhattacharjee)
First Revealed: IST