State receives ₹1,000 crore on tax devolution : 12th jun24 ~ E-Pao! Headlines

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State receives ₹1,000 crore on tax devolution
Source: Chronicle News Service

Imphal, June 11 2024: The central government has released an additional instalment of Rs 1,39,750 crore for tax devolution to states, including a significant allocation for Manipur.

The instalment, released in addition to the regular June 2024 devolution amount, aims to enable state governments to accelerate development and capital spending.

Manipur has been allocated Rs 1,000.60 crore as part of the distribution, which a component of the cumulative Rs 2,79,500 crore devolved to states for the fiscal year 2024-25, up to June 10.The Interim Budget for 2024-25 has earmarked Rs 12,19,783 crore for the devolution of taxes to states to support development and infrastructure projects.

In addition to Manipur, Rs 2,455.44 crore has been granted to Arunachal Pradesh, Rs 4,371.38 crore to Assam, Rs 1,071.90 crore to Meghalaya, Rs 698.78 crore to Mizoram, Rs 795.20 crore to Nagaland, and Rs 989.44 crore to Tripura.

Uttar Pradesh got the highest amount at Rs 25,069.88 crore, followed by Bihar at Rs 14,056.12 crore.

Madhya Pradesh is third with Rs 10,970.44 crore and West Bengal fourth at Rs 10,513.46 crore.

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