LIC reports 3.51% growth in profit after tax for H1 FY 2024
The Board of Directors of Life Insurance Corporation of India (LIC) has approved and adopted the standalone and consolidated financial results for the six months ending 30 September.
The Union government, on Thursday, released two installments of tax devolution to the state governments amounting to Rs 1,16,665.75 crore, as against the normal monthly devolution of Rs 58,332.86 crore, the Ministry of Finance said.
“This is in line with the commitment of the Government of India to strengthen the hands of states to accelerate their capital and developmental expenditure,” the ministry said in a statement.
Uttar Pradesh has got the highest amount of Rs 20,928.62 crore followed by Bihar at Rs 11,734.22 crore.
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While Andhra Pradesh has received Rs 4,721.44 crore, Chhattisgarh has got Rs 3,974.82 crore, Madhya Pradesh Rs 9,158.24 crore and Assam has received Rs 3,649.30 crore.
West Bengal has received Rs 8,776.76 crore as two installments of tax devolution from the Centre.
Gujarat has received Rs 4,057.64 crore, while Haryana has received Rs 1,275.14 crore, Maharashtra Rs 7,369.76 crore; Rajasthan Rs 7,030.28 crore and Tamil Nadu Rs 4,758.78 crore.
The share of the states in the Central taxes – at the aggregate level of 41 per cent – was decided by the 15th Finance Commission. Typically, this is transferred in 14 installments in a fiscal year.
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