Indian Economy News

Centre releases Rs. 7,183 crore (US$ 873.83 million) as revenue deficit grant to 14 states

  • IBEF
  • October 7, 2022

The Finance Ministry has released the seventh monthly instalment of the post-devolution revenue deficit (PDRD) assistance to 14 states, totalling Rs. 7,183.42 crore (US$ 873.83 million). The funding was made available in accordance with the recommendations of the 15th Finance Commission. For 2022-23, the panel recommended a total allocation of Rs. 86,201 crore (US$ 10.48 billion) to 14 states.

The recommended award is distributed to the recommended states in 12 equalised monthly payments by the Department of Expenditure. The total amount of revenue shortfall grants awarded to states in 2022-23 has increased to Rs. 50,282.92 crore (US$ 6.11 billion) with the delivery of the seventh instalment for the month of October 2022.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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