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.
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 installment amounting to Rs 73,000 crore is in addition to the tax devolution installment due to states on 10 January 2024 and the installment of Rs 72,961.21 crore already released on 11 December 2023, said the Ministry of Finance.
This amount will enable the state governments to make in-time releases and add to the festivities and celebrations among the people, said the Ministry of Finance in a statement.
The government on Friday released the 14 instalment of tax devolution of more than Rs 1.40 lakh crore to states.
He also sought granting a special package for disaster management of at least Rs 1,500 crore to build more cyclone shelters and improve early warning systems in the state.
