Centre releases Rs 1,09,019 crore regular tax devolution to states ahead of Diwali
·2 hours ago·2 min read
Key Points
In view of the festive season and Diwali, the Central government released the regular tax devolution instalment of Rs 1,09,019 crore to state governments ahead of its scheduled date of November 10, with the Finance Ministry stating the release was to enable states to accelerate capital spending and finance development and welfare-related expenditure.
New Delhi, Nov 5: In view of the festive season and Diwali, the Central government on Thursday released the regular tax devolution instalment of Rs 1,09,019 crore to state governments ahead of its scheduled date of November 10.
"In view of upcoming festive season and to enable states to accelerate capital spending and finance their development/welfare related expenditure, the Union Government released regular tax devolution of Rs 1,09,019 crore to State Governments in advance," the Finance Ministry said in a statement.
Uttar Pradesh, the most populous state, received Rs 19,208 crore, Bihar received Rs 10,845 crore, Madhya Pradesh Rs 8,010 crore, West Bengal Rs 7,866 crore, Maharashtra Rs 7,022 crore, and Rajasthan Rs 6,460 crore, among others.
Last week, the Union Government released an additional instalment of tax devolution worth Rs 1,09,019 crore to state governments, which is in addition to the regular monthly devolution.
"In view of upcoming festive season and to enable states to accelerate capital spending and finance their development/welfare related expenditure, the Union Government released regular tax devolution of Rs 1,09,019 crore to State Governments in advance," the Finance Ministry said in a statement.
Uttar Pradesh, the most populous state, received Rs 19,208 crore, Bihar received Rs 10,845 crore, Madhya Pradesh Rs 8,010 crore, West Bengal Rs 7,866 crore, Maharashtra Rs 7,022 crore, and Rajasthan Rs 6,460 crore, among others.
Last week, the Union Government released an additional instalment of tax devolution worth Rs 1,09,019 crore to state governments, which is in addition to the regular monthly devolution.
📱 Get Argus News App
✨📰 60 Word News🎬 Argus Podcast📺 Live TV and Breaking News🔔 Free Notification Alerts
Download Free:
The release of the additional instalment of tax devolution was in view of the upcoming festive season and to enable states to accelerate capital spending and finance their development/welfare related expenditure, according to the Finance Ministry.
Also Read: Odisha bags Rs1.17 lakh crore green energy investment, signs 18 MoUs
In August, the government released an additional instalment of tax devolution worth Rs 1,09,019 crore to state governments, which was in addition to the normal monthly devolution. The release was in line with the commitment of the Centre to strengthen the finances of states to accelerate their capital and developmental expenditure.
India’s fiscal deficit stood at Rs 7.14 lakh crore during the first six months of the current financial year, from April to September, accounting for 42.1 per cent of the full-year budget estimate, according to official data.
The Centre has projected a fiscal deficit of Rs 16.96 lakh crore for 2026-27. Revenue receipts during the April-September period amounted to Rs 17.57 lakh crore, or 49.7 per cent of the annual target. Net tax revenue contributed Rs 12.76 lakh crore, while non-tax revenue stood at Rs 4.81 lakh crore.
(IANS)
Also Read: Odisha bags Rs1.17 lakh crore green energy investment, signs 18 MoUs
In August, the government released an additional instalment of tax devolution worth Rs 1,09,019 crore to state governments, which was in addition to the normal monthly devolution. The release was in line with the commitment of the Centre to strengthen the finances of states to accelerate their capital and developmental expenditure.
India’s fiscal deficit stood at Rs 7.14 lakh crore during the first six months of the current financial year, from April to September, accounting for 42.1 per cent of the full-year budget estimate, according to official data.
The Centre has projected a fiscal deficit of Rs 16.96 lakh crore for 2026-27. Revenue receipts during the April-September period amounted to Rs 17.57 lakh crore, or 49.7 per cent of the annual target. Net tax revenue contributed Rs 12.76 lakh crore, while non-tax revenue stood at Rs 4.81 lakh crore.
(IANS)
Related Topics
Explore more stories