New Delhi: The Union Government today released the third instalment of tax devolution to State Governments amounting to ₹1,18,280 crore, as against the normal monthly devolution of ₹59,140 crore.
One advance instalment of tax devolution in addition to the regular instalment due in June 2023 is being released to States to enable them to speed up capital spending, finance their development/welfare-related expenditure and also make available resources for priority projects and schemes, the Ministry of Finance stated.
The state-wise breakup of amounts released is given below in the table.
State-wise distribution of Net Proceeds of Union Taxes and Duties for June 2023
– global bihari bureau
