Tax devolution: Centre releases ₹3,467 cr. to State

The Centre has released an instalment of tax devolution of ₹3,467.62 crore to Karnataka. Of this amount, ₹1,733.81 crore is regular January 2022 instalment and ₹1,733.81 crore advance instalment.

Chief Minister Basavaraj Bommai tweeted the release of GST amount to the State and extended thanks to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman on the behalf of the people of Karnataka. “The amount will help drive expenditure in key sectors, strengthen demand and aid economic growth in Karnataka, especially when the State is facing third wave of COVID,” the Chief Minister tweeted.

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Printable version | May 25, 2022 4:02:08 pm | https://www.thehindu.com/news/national/karnataka/tax-devolution-centre-releases-3467-cr-to-state/article38304952.ece