The central government has released Rs 1,16,665 crore to the states in two installments of tax devolution. The central government has released 2 installments of tax devolution of Rs 1,16,665 crore to the state governments against the monthly transfer of Rs 58,332 crore.
It has been said by the Finance Ministry that the amount released to the states in the form of tax devolution has been released to accelerate their capital and developmental expenditure. This amount has been released under the commitment of the Government of India to strengthen its hands.
This time, Rs 20,928.62 crore has been released to Uttar Pradesh as tax transfer by the Center while Rs 11,734.22 crore has been released to Bihar. At the same time, Rs 7,369.76 crore has been released to Maharashtra while Rs 4721.44 crore has been released to Andhra Pradesh.
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