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Centre releases two installments of tax devolution to states

State governments have received a total of Rs 1,16,665.75 crore as against the normal monthly devolution of Rs 58,332.86 crore.

Statesman News Service | New Delhi |

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.

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.