Centre releases Rs. 1,39,750 crore installment of Tax Devolution to States

• It has been decided that apart from the regular release of the devolution amount for the month of June 2024, one additional instalment will be released.  This release cumulatively amounts to Rs. 1,39,750 crore in the current month. This will enable State Governments to accelerate development and capital spending.
• The Interim Budget 2024-25 has a provision of Rs. 12,19,783 crore towards devolution of taxes to States.
• With this release, the total amount devolved (for FY 2024-25) to States till 10 June 2024 is Rs. 2,79,500 crore.
• Andhra Pradesh received a total of 5655.72crore towards tax devolution.

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Published date : 12 Jun 2024 04:49PM