Tax devolution Centre releases Rs 72,961.21 cr as additional installment of tax devolution to states
New Delhi: The Centre has authorised the release of an additional installment of tax devolution amounting to Rs 72,961.21 crore to the states, the Ministry of Finance said on Friday.
This has been done “to strengthen the hands of state governments for financing various social welfare measures and infrastructure development schemes in view of the forthcoming festivities and the New Year,” the ministry said.
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 crore already released on 11 December 2023, it added.
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