Tax Devolution: Modi government's sensational decision in one day.. Crores of rupees to the states.. | Telugu News

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The Center Has Decided To Release An Additional Installment In The Tax Distribution Share Of The States

Tax Devolution: For the third time in a row, the NDA government led by Prime Minister Narendra Modi has devolved. On Monday, the Prime Minister allocated departments to the cabinet. Nirmala Sitharaman was entrusted with the finance department for the third time. Soon after the division of departments, the finance department took a big decision. Green signal for distribution of Rs.1,39,750 crore taxes to states. As part of this, Uttar Pradesh has been allotted the highest amount of funds.

Even for Bihar..

Yogi Adityanath-led Uttar Pradesh got the lion's share of the tax allocation. 25,069.88 crore to UP. Bihar, led by Nitish Kumar, a strong alliance partner, is second. The Finance Ministry has transferred Rs.14,056.12 crore to Bihar. Madhya Pradesh (MP), the third highest receiving state in this list, transferred Rs.10,970.44 crore for it.

We will spend for the development of states

It is noteworthy that in the interim budget of 2024-25, Rs.12,19,783 crore has been allocated for tax transfer to the states. While releasing the tax distribution to the states, in a statement issued by the finance ministry, the devolution amount for June 2024 will be released along with the regular release as well as an additional installment. State governments use it to accelerate development and capital expenditure. Accordingly, with an additional deferral, on Monday, June 10 (for the financial year 2024-25), the amount transferred to the States will be Rs. 2,79,500 crores.

* Center releases tax disbursement of ₹1,39,750 crore to states
* With today's release, a total of ₹2,79,500 crore has been allocated to states for the financial year 2024-25 till 10 June 2024.

If we know the amount received by other states, Rs.10513.46 crores have been released to West Bengal, Rs.8828.08 crores to Maharashtra, Rs.8421.38 crores to Rajasthan, Rs.6327.92 crores to Odisha, Rs.5700.44 crores to Tamil Nadu, Rs.5655.72 crores to Andhra Pradesh and Rs.4860.56 crores to Gujarat.

Out of this amount released to 28 states of the country, Rs.4621.58 crores for Jharkhand, Rs.5096.72 crores for Karnataka, Rs.2525.32 crores for Punjab, Rs.1159.92 crores for Himachal Pradesh and Rs.2690.20 crores for Kerala. Apart from this, Manipur and Meghalaya got Rs.1000.60 crore and Rs.1071.90 crore respectively.

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