New Delhi: The Finance Ministry under the newly formed National Democratic Alliance (NDA) government at the Centre has decided to release one additional instalment of devolution of taxes to states besides the devolution amount for the month of June 2024.
The total amount, adding both, comes to Rs.1,39,750 crore in the current month. This will enable state governments to accelerate development and capital spending.
The Interim Budget 2024-25 had a provision of Rs 12,19,783 crore towards devolution of taxes to states. With this release, the total amount devolved (for FY 2024-25) to states till June 10, 2024 is Rs 2,79,500 crore.
As per the allocations, Uttar Pradesh has got the highest amount of Rs 25069.88 crore. The state with the second highest allocation is Bihar with Rs 14056.12 crore. The state on the third spot is Madhya Pradesh with Rs 10970.44 crore. Odisha has received Rs.6,327.92 crore.
State-wise releases: https://www.pib.gov.in/PressReleseDetail.aspx?PRID=2023869