Guwahati: The Union finance ministry on Thursday released the 7th monthly instalment of the Post Devolution Revenue Deficit (PDRD) grant worth Rs 1,603.41 crores to seven Northeastern states.
The seven Northeastern states to benefit from the Centre’s grant are Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.
The grant has been released as per the recommendations of the Fifteenth Finance Commission.
According to a finance ministry’s release, the Post Devolution Revenue Deficit 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 release stated.
“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 Fifteenth Finance Commission based on the gap between assessment of revenue and expenditure of the state after taking into account the assessed devolution during this period,” the release added.
The Union ministry released an amount of Rs 407.50 crore for Assam, Rs 192.50 crore for Manipur, Rs 86.08 crore for Meghalaya, Rs 134.58 crore for Mizoram, Rs 377.50 crore for Nagaland, Rs 36.67 crore for Sikkim and Rs 368.58 crore for Tripura.
The Union ministry added that with the release of the 7th instalment for the month of October 2022, the total amount of Revenue Deficit Grants released to the seven northeastern states in 2022-23 has gone up to Rs 11,223.91 crore.
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