Centre has released the 3rd monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871 crore for the current financial year to 17 States.
With the release of 3rd installment, a total amount of Rs. 29,613 crore have been released in the first three months of the current financial year as Post Devolution Revenue Deficit Grant to the states.
The Centre provides the Post Devolution Revenue Deficit Grant to the States under Article 275 of the Constitution.
The grants are released as per the recommendations of the Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post devolution.
The 15th Finance Commission has recommended Post Devolution Release Deficit grants to 17 States.
The States recommended for Post Devolution Revenue Deficit Grant are: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.