New Delhi/Bhubaneswar: The Centre has released additional instalment of tax devolution worth Rs 1,09,019 crore to state governments, which is in addition to the normal monthly devolution to be released on August 10.
This release is in line with the commitment of Government of India to strengthen the finances of States to accelerate their capital and developmental expenditure, the Ministry of Finance said on Saturday.
Odisha received Rs 4,819 crore as part of an advance tax devolution released by the Centre to help states to accelerate their capital and developmental expenditure.
Similarly, Uttar Pradesh got the highest — Rs 19,208 crore, followed by Bihar (Rs 10,845 crore), Madhya Pradesh (Rs 8,010 crore), West Bengal (Rs 7,866 crore), Maharashtra (Rs 7,022 crore), and Rajasthan (Rs 6,460 crore).
Andhra Pradesh (Rs 4,597 crore), Tamil Nadu (Rs 4,466 crore), Karnataka (Rs 4,504 crore), and Jharkhand (Rs 3,660 crore) also received significant additional tax devolution.
In October last year, the Union government released an additional tax devolution of Rs 1,01,603 crore to state governments. This was an additional amount to the normal monthly devolution, which was released on October 10.
Odisha had received Rs 4,601 crore as part of additional tax devolution.
The decision was taken in view festive season to enable states to accelerate capital spending and finance their development and welfare-related expenditure.
