FinMin sanctions Rs 46,038 cr states' share in central taxes for April

The Finance Ministry on Monday said it has sanctioned Rs 46,038 crore for the devolution of states' share in central taxes and duties for April.

In a tweet the ministry said to assist states effectively address situation arising out of Covid-19 pandemic, as a special dispensation, the calculation of net proceeds of shareable taxes has been kept unchanged as per Budget 2020-21.

The Budget had projected the share of the states in taxes at Rs 7.84 lakh crore for 2020-21.

The 15th Finance Commission had recommended the share of states at 41 per cent of the divisible pool and 1 per cent for