The Centr🍎e on Monday authorised the release of tax devolution oꦺf Rs 1,39,750 crore to states for June.
The Interim Budget 2024-25 has a ﷽provision of Rs 12,19,783 crore 💝towards the devolution of taxes to states.
The Centr🍎e on Monday authorised the release of tax devolution oꦺf Rs 1,39,750 crore to states for June.
It was decided that apart from t🍨he regular release of the devolution amount for the month ofꦐ June 2024, one additional instalment will be released, the Finance Ministry said in a statement.
"This cumulatively amounts to Rs 1,39,750 crore in the current month. Tꦺh🥃is will enable State Governments to accelerate development and capital spending," it added.
Currently, 41 per cent of taxes collected by the Centre is d🌠evolved in 14 insta🐷lments among states during a fiscal year.
The Interim Budget 2024-25 has a provision of Rs 12,19,783 cไrore towards the devolution of taxes to states.
With this release, the total amount devoꦅlved (for FY 2024-25) to states till June 10, 2024, is Rs 2,79,500 crore, it addeꦇd.