The Centre has released third monthly installment of Post Devolution Revenue Deficit (PDRD) grant of Rs 9,871 crore for the year 2021-22 to 17 states.
With the release of third installment, a total amount of Rs 29,613 crore has been released in first three months of the current financial year, according to a statement released by the Ministry of Finance on Wednesday.
The Centre provides PDRD grant to states under Article 275 of the Constitution. The grants are released as per recommendations of the Finance Commission in monthly installments to meet the gap in revenue accounts.
The 15th Finance Commission has recommended PDRD grant of Rs 118,452 crore to 17 states: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
( With inputs from ANI )
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