On October 10, the central government announced the release of ?1.78 trillion to state governments as part of tax devolution, which includes an advance installment of ?89,086.50 crore. This decision is intended to support the upcoming festive season and encourage increased capital spending, according to a statement from the finance ministry.
The finance ministry’s statement noted that the total amount released is significantly higher than the usual monthly devolution of ?89,086.50 crore, as it includes an advance installment in addition to the regular payment due in October 2024. The funds aim to enable states to accelerate their capital expenditures and support their development and welfare-related initiatives.
The allocated amounts for various states are as follows: Andhra Pradesh will receive ?7,211 crore, Arunachal Pradesh ?3,131 crore, Assam ?5,573 crore, Chhattisgarh ?6,070 crore, Goa ?688 crore, Gujarat ?6,197 crore, Haryana ?1,947 crore, Himachal Pradesh ?1,479 crore, Jharkhand ?5,892 crore, Karnataka ?6,492 crore, Maharashtra ?11,255 crore, Manipur ?1,276 crore, Meghalaya ?1,367 crore, Mizoram ?891 crore, Nagaland ?1,014 crore, Odisha ?8,068 crore, Punjab ?3,220 crore, Rajasthan ?1,737 crore, Sikkim ?691 crore, Tamil Nadu ?7,268 crore, Telangana ?3,745 crore, Tripura ?1,261 crore, Uttarakhand ?1,992 crore, and West Bengal ?13,404 crore.
Post Your Comments