Tax devolution: Rs 1.4 lakh crore released to states

This will enable state governments to accelerate development and capital spending.
Image used for representational purpose.
Image used for representational purpose.

NEW DELHI: The Centre has released Rs 1,39,750 crore in the month of June from the regular release of the devolution amount, according to a Ministry of Finance statement released on Monday.

This will enable state governments to accelerate development and capital spending.

The Interim Budget 2024-25 has a provision of Rs 12,19,783 crore towards devolution of taxes to states. With this release, the total amount devolved (for FY2024-25) to states till June 10, 2024, is Rs 2,79,500 crore.

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