Centre releases Rs.1,39,750 crore to states towards tax devolution for June
In a move to spur economic development in states, Finance Ministry has released an additional instalment of tax devolution to states for June 2024. The total amount released to states for June now stands at Rs 1,39,750 crore.
This decision was taken to accelerate development projects of different states so that their any projects should not get delayed because of capital requirement.
Finance Ministry's decision to release tax devolution was taken following a high-level meeting with the Finance Secretary and the Secretary of the Department of Economic Affairs on Monday.
During the meeting, the economic and fiscal conditions of states were thoroughly reviewed, leading to the conclusion that an additional instalment of funds would be necessary.
