Centre releases ₹1.39 lakh crore to States
The Centre approved the disbursement of ₹1,39,750 crore in tax devolution to the states for June, including an additional instalment for accelerated development. This will enable state governments to enhance development and capital spending.
The interim budget 2024-25 includes a provision of ₹12,19,783 crore towards the devolution of taxes to states.
Finance Minister Nirmala Sitharaman, along with Finance Secretary T. V. Somnathan and Economic Affairs Secretary Ajay Seth, reviewed the economic and fiscal situation before deciding on the additional instalment.
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