The centre has authorised the release of an additional installment of tax devolution amounting to Rs. 72,961.21 crores to states.
The step will aid the states in financing various social welfare measures and infrastruture development schemes.
The finance ministry accentuated "This installment is in addition to the tax devolution installment due to states on 10 January 2024 and the installment of Rs.72,961.21 crores already on 11 December 2023"
According to the Ministry, an amount of Rs.2952.74 crores has been released to Andhra Pradesh, Rs 13,088.51 crore to Uttar Pradesh whereas Rs.5,488.8 crore has been released to West Bengal. Among major states Rs.4,396.64 has been allocated to Rajasthan, Rs.4,608.96 crores to Maharastra and Rs.5,727.44 crore to Madhya Pradesh.
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