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The Finance Ministry on Monday stated it has launched Rs 9,871 crore of income deficit grant to 17 states. The states which can obtain cash from the grant as beneficial by the fifteenth Finance Fee are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
“The Division of Expenditure, Ministry of Finance has launched seventh month-to-month installment of Put up Devolution Income Deficit (PDRD) Grant of Rs. 9,871.00 crore to the States right here at present. With the discharge of this installment, a complete quantity of Rs 69,097.00 crore has been launched to eligible states as Put up Devolution Income Deficit Grant (PDRD) within the present monetary 12 months,” an official assertion stated.
The grants are launched as per the suggestions of the fifteenth Finance Fee in month-to-month installments to fulfill the hole in income accounts of the states submit devolution. The Fee has beneficial this grant to 17 states throughout 2021-22.
The eligibility of states to obtain this grant and the quantum of grant was determined by the Fee primarily based on the hole between evaluation of income and expenditure of the State after considering the assessed devolution for the monetary 12 months 2021-22.
“The fifteenth Finance Fee has beneficial a complete Put up Devolution Income Deficit Grant of Rs 1,18,452 crore to 17 States within the monetary 12 months 2021-22. Out of this, an quantity of Rs 69,097.00 crore (58.33 per cent) has been launched to date,” the assertion added.
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