The Finance Ministry underneath the newly shaped Nationwide Democratic Alliance (NDA) authorities on the Centre has determined to launch one further instalment of devolution of taxes to states moreover the devolution quantity for the month of June 2024. Â The overall quantity, including each, involves Rs 1,39,750 crore within the present month. This may allow state governments to speed up growth and capital spending.Â
The Interim Funds 2024-25 had a provision of Rs 12,19,783 crore in the direction of devolution of taxes to states. With this launch, the entire quantity devolved (for FY 2024-25) to states until June 10, 2024 is Rs 2,79,500 crore.
As per the allocations, Uttar Pradesh has received the best quantity of Rs 25069.88 crore. The state with the second highest allocation is Bihar with Rs 14056.12 crore. The state on the third spot is Madhya Pradesh with Rs 10970.44 crore.Â
This is the detailed desk with state allocation particulars:
Sl.N o. |
State |
Tax Devolved on 10th June, 2024 |
1 |
AndhraPradesh |
5655.72 |
2 |
Arunachal Pradesh |
2455.44 |
3 |
Assam |
4371.38 |
4 |
Bihar |
14056.12 |
5 |
Chhattisgarh |
4761.30 |
6 |
Goa |
539.42 |
7 |
Gujarat |
4860.56 |
8 |
Haryana |
1527.48 |
9 |
Himachal |
1159.92 |
10 |
Jharkhand |
4621.58 |
11 |
Karnataka |
5096.72 |
12 |
Kerala |
2690.20 |
13 |
MadhyaPradesh |
10970.44 |
14 |
Maharashtra |
8828.08 |
15 |
Manipur |
1000.60 |
16 |
Meghalaya |
1071.90 |
17 |
Mizoram |
698.78 |
18 |
Nagaland |
795.20 |
19 |
Odisha |
6327.92 |
20 |
Punjab |
2525.32 |
21 |
Rajasthan |
8421.38 |
22 |
Sikkim |
542.22 |
23 |
TamilNadu |
5700.44 |
24 |
Telangana |
2937.58 |
25 |
Tripura |
989.44 |
26 |
Uttar Pradesh |
25069.88 |
27 |
Uttarakhand |
1562.44 |
28 |
West Bengal |
10513.46 |
 |
TOTAL |
139750.92 |
Â
In February this 12 months, the Centre launched Rs 1.42 lakh crore in tax devolution to the states, supplementing the Rs 72,961 crore disbursed earlier in the identical month. In response to the finance ministry, the funds will permit the states to finance varied social welfare measures and infrastructure growth schemes. “With this launch, states have acquired whole of three instalments of tax devolution in February 2024,” it added.
Uttar Pradesh led with Rs 25,495 crore, adopted by Bihar ( Rs 14,295 crore), Madhya Pradesh ( Rs 11,157 crore), and West Bengal ( Rs 10,692 crore) in tax devolution for the third tranche. Smaller allocations have been made to Goa ( Rs 549 crore), Sikkim ( Rs 551 crore), Mizoram ( Rs 711 crore), and Nagaland (Rs 809 crore).
Â