Economy

States to get ₹47,541 cr. via tax devolution

Representational image.

Representational image.

The Centre will on Thursday release an advance instalment of tax devolution to the States amounting to ₹47,541 crore, the Finance Ministry said.

“Finance Minister Nirmala Sitharaman has authorised the release of an advance instalment of tax devolution to State governments amounting to ₹47,541 crore, here today. This is in addition to the regular devolution for the month of January , also being released today,” the Ministry said in a statement.

Thus, States would receive a total of ₹95,082 crore or double their respective entitlement during the month of January, the Finance Ministry said in the statement.


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Printable version | May 24, 2022 3:09:48 am | https://www.thehindu.com/business/Economy/states-to-get-47541-cr-via-tax-devolution/article38299748.ece