Centre releases ₹72,961.21 crore to states as additional tax devolution proceeds
₹72,961.21 crore to states as tax devolution for funding various social welfare measures and infrastructure development schemes, the finance ministry said in a statement on Friday. This amount is in addition to the tax devolution proceeds due to states on 10 January 2024 and another ₹72,961.21 crore disbursed to states on 11 December 2023, as per the statement.
The Centre typically disburses tax devolution funds in 14 yearly installments, including monthly payments and three additional disbursements in March. In the latest allocation, Uttar Pradesh received the largest share at ₹13,088.51 crore.
This was followed by Bihar ( ₹7,338 crore), Madhya Pradesh ( ₹5,727.44 crore), West Bengal ( ₹5,488.88 crore), Maharashtra ( ₹4,608.96 crore), Rajasthan ( ₹4,396.64 crore), and Odisha ( ₹3,303.69 crore). Smaller allocations went to Goa ( ₹281.63 crore), Sikkim ( ₹283.10 crore), Mizoram ( ₹364.80 crore), and Nagaland ( ₹415.15 crore).
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