Centre releases tax devolution of Rs 1,73,030 crore to States, higher than Dec
A higher amount is being devolved this month to enable states to accelerate capital spending and finance their development and welfare-related expenditures, centre said.
The government on Friday released the 14 instalment of tax devolution of more than Rs 1.40 lakh crore to states.
“The Union Government has released 14th instalment of tax devolution to state governments amounting to Rs 1,40,318 crore today, as against normal monthly devolution of Rs 70,159 crore,” the finance ministry said in a statement on Friday. This is in line with the commitment of Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure, it read.
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Uttar Pradesh received the highest instalment of Rs 24,783 crore among all states.
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