Centre releases tax devolution of Rs 1,78,173 crore to state govts ahead of festive season

The Union Government released Rs 1,78,173 crore in tax devolution to State Governments, significantly higher than the usual monthly allocation of RS 89,086.50 crore. This amount includes one advance installment in addition to the regular installment scheduled for October 2024

Aishwarya Nair

First Published Oct 11, 2024, 9:00 AM IST | Last Updated Oct 11, 2024, 9:00 AM IST

New Delhi: The central government on Thursday (Oct 10) announced the release of Rs 1.78 trillion to States for tax devolution, which includes an advance installment of Rs 89,086.50 crore. This decision aims to facilitate the upcoming festive season and boost capital spending, according to a statement from the finance ministry.

The statement from the Finance Ministry read, " The Union Government has released tax devolution of Rs 1,78,173 crore to State Governments on 10th October, 2024, as against the normal monthly devolution of Rs 89,086.50 crore. It includes one advance installment, in addition to the regular installment due in October 2024."

"This release is in view of the upcoming festive season and to enable States to accelerate capital spending, and also finance their development/ welfare related expenditure," it added.

The amounts received by the states are as follows:

Andhra Pradesh: Rs 7,211 crore

Arunachal Pradesh: Rs 3,131 crore

Assam: Rs 5,573 crore

Chhattisgarh: Rs 6,070 crore

Goa: Rs 688 crore

Gujarat: Rs 6,197 crore

Haryana: Rs 1,947 crore

Himachal Pradesh: Rs 1,479 crore

Jharkhand: Rs 5,892 crore

Karnataka: Rs 6,492 crore

Maharashtra: Rs 11,255 crore