AP Receives Rs 879 Crore PDRD Grant From Centre

AP Receives Rs 879 Crore GST Compensation From Centre - Sakshi Post

NEW DELHI: The Union Finance Ministry has released the third monthly instalment of revenue deficit grant of Rs 7,183 crore to 14 states. As part of its share, the state of Andhra Pradesh has received Rs 879.08 Crore pending for the month of June for the Financial Year 2022-23, as per reports in the Sakshi Telugu Newspaper reported on 07-06-2022.

The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 86,201 crore to 14 states for the financial year 2022-23. This is to be released in 12 equated monthly instalments.The states receiving this grant apart from Andhra Pradesh are Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.

 "The Department of Expenditure has on Monday released the 3rd monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States," the ministry said in a statement. With the release of the third instalment for the month of June 2022, the total amount of revenue deficit grants released to the states in 2022-23 stands at Rs 21,550.25 crore

Last month the Union Government cleared the entire GST Compensation due till the 31st of May. Of this, Rs 25,000 crore was released from the GST compensation fund and the balance Rs 61,912 crore is being released by the Centre from its own resources pending collection of cess. Of the total compensation released, Rs 17,973 crore is towards April and May dues, Rs 21,322 crore towards February-March dues and Rs 47,617 crore is the balance of compensation payable up to January 2022. With this release of Rs. 86,912 crore, the compensation to States till May 2022 gets fully paid and only compensation for June 2022 would remain and as part of the State-wise break, Andhra Pradesh received Rs 3,199 Crore.

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