Ahead of the festive season, the Union Government has released Rs 1,78,173 crore to state governments as tax devolution on October 10.
Representative Image
Ahead of the festive season, the Union Government has released Rs 1,78,173 crore to state governments as tax devolution on October 10.
This is against the normal monthly devolution of Rs 89,086.50 crore. It includes one advance instalment, in addition to the regular instalment due in October 2024.
Advertisement
The Ministry of Finance in its statement said this release is in view of the upcoming festive season and to enable States to accelerate capital spending, and also finance their development/ welfare related expenditure.
Advertisement
The Centre has doubled the release to help states manage their finances more effectively during the festive period.
Uttar Pradesh got the highest share with Rs 31,962 crore, while Bihar got Rs 17,921 crore from the Centre.
West Bengal, the state which is globally know for the Durga Puja celebrations, got Rs 13,404 crore from the Union Government.
Other notable recipients include Maharashtra with Rs 11,255 crore and Rajasthan with Rs 10,737 crore.
Advertisement
