Central government released Rs 72,961 crore to states as tax devolution
Current Hunt Team
Central government released Rs 72,961 crore to states as tax devolution.
For financing social welfare measures and infrastructure development schemes, Rs 72,961 crore has been released by the central government as tax devolution to states.
Out of the Rs. 72,961.21 crores installment disbursed, the largest share has gone to Uttar Pradesh.
Uttar Pradesh is followed by Bihar (Rs.7,338.44 crore), Madhya Pradesh (Rs.5,727.44 crore) and West Bengal (Rs.5,488.88 crore).
Maharashtra’s share is Rs.4,608.96 crore, Rajasthan’s share is at Rs.4,396.64 crore and Odisha’s at Rs.3303.69 crore.
The remaining States’ share has been lower than Rs.3,000 crore.
The remaining States’ share ranged from Rs.281.63 crore (Goa) to Rs.2,976.10 crore (Tamil Nadu).
This installment is in addition to the tax devolution installment Rs 72,961.21 crore released on December 11, 2023.
The Terms of Reference (ToR) of the 16th Finance Commission has been recently approved by the Union Cabinet.
