Centre Releases Tax Devolution Worth Rs 1.16 Lakh Crore To States
NDTV
"This would help strengthen the hands of states to accelerate their capital and developmental expenditure," the finance ministry said in a statement.
The government on Thursday released two instalments of tax devolution to states totalling over Rs 1.16 lakh crore to help accelerate their capital expenditure.
"The Union Government has released two instalments of tax devolution to State Governments amounting to Rs. 1,16,665 crore today, as against normal monthly devolution of Rs. 58,333 crore," the finance ministry said in a statement.
This would help strengthen the hands of states to accelerate their capital and developmental expenditure, it added.
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