Centre decides to release additional installment of the tax devolution share of States
The Hindu
The Centre decided to release an additional installment of the tax devolution share of States along with their due share for June 2024. Effectively, ₹1,39,750 crore is being transferred to States this month.
The Centre on June 10 decided to release an additional installment of the tax devolution share of States along with their due share for June 2024. Effectively, ₹1,39,750 crore is being transferred to States this month.
The move is seen as a goodwill gesture by the newly formed NDA government towards States, including its key alliance partners TDP and JD(U). June 10’s transfer to States, includes ₹14,056 crore for Bihar, and ₹5,655 crore to Andhra Pradesh.
“This will enable State Governments to accelerate development and capital spending,” the Finance Ministry said in a statement. With this release, the total amount devolved (for FY 2024-25) to States till June 10, 2024 is ₹2,79,500 crore, it added.
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