 "Centre releases Rs 1.18 trillion as tax devolution to state govts")
The government on Monday released the third installment of tax devolution to state governments, amounting to Rs 1.18 trillion. This is significantly higher than the normal monthly devolution of Rs 59,140 crore.
The government is releasing an additional advance installment to the states in June, 2023. This is being done to help the states speed up capital spending, finance their development and welfare-related expenditures, and make resources available for priority projects and schemes, the Ministry of Finance said.
The distribution of net proceeds of Union taxes and duties for June is as follows:
Rs 4,787 for Andhra Pradesh, Rs 2,078 for Arunachal Pradesh, Rs 3,700 for Assam, Rs 11,897 for Bihar, Rs 4,030 crore for Chhattisgarh, Rs 457 crore for Goa, Rs 4,114 crore for Gujarat, Rs 1,293 crore for Haryana, Rs 982 crore for Himachal Pradesh, Rs 3,912 crore for Jharkhand, Rs 4,314 crore for Karnataka, Rs 2,277 crore for Kerala, Rs 9,285 crore for Madhya Pradesh, Rs 7,472 crore for Maharashtra, Rs 847 crore for Manipur, Rs 907 crore for Meghalaya, Rs 591 crore for Mizoram, Rs 673 crore for Nagaland, Rs 5,356 crore for Odisha, Rs 2,137 crore for Punjab, Rs 7,128 crore for Rajasthan, Rs 459 crore for Sikkim, Rs 4,825 crore for Tamil Nadu, Rs 2,486 crore for Telangana, Rs 837 crore for Tripura, Rs 21,218 crore for Uttar Pradesh, Rs 1,322 crore for Uttarakhand, and Rs 8,898 crore for West Bengal.