Centre to release Rs 47,541 cr to states as advance instalment of tax

AgenciesUpdated: Thursday, January 20, 2022, 02:47 PM IST
article-image
Finance Minister Nirmala Sitharaman |

Union Finance Minister Nirmala Sitharaman has authorised the release of an advance instalment of tax devolution to State Governments amounting to Rs 47,541 crore, Finance Ministry said.

"This is in addition to the regular devolution for the month of January 2022, also being released today," stated the ministry.

The Government of India had released the first advance instalment of tax devolution to States on 22 November 2021.

States would receive a total of Rs 95,082 crore during the month of January 2022, the ministry added.

The Centre has released advance payments to the states to strengthen the hands of States to accelerate their developmental expenditure.

Finance Ministry stated, "With the release of the second advance instalment today, the States would have received an additional amount of Rs 90,082 crore under tax devolution over and above what has been budgeted to be released till January 2022."

(With inputs from ANI)

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Mumbai: Latest Updates - Now Mumbaikars can report violations by remaining anonymous

Mumbai: Latest Updates - Now Mumbaikars can report violations by remaining anonymous

Biju Janta Dal announces candidates for 4 Rajya Sabha seats from Odisha

Biju Janta Dal announces candidates for 4 Rajya Sabha seats from Odisha

IPL Final: Sanjay Manjrekar says Jos Buttler will have to be extremely cautious against this player

IPL Final: Sanjay Manjrekar says Jos Buttler will have to be extremely cautious against this player

Missing woman judge found hanging at brother's house in south Delhi

Missing woman judge found hanging at brother's house in south Delhi

Arvind Kejriwal holds rally in Haryana; here's what the AAP chief promised

Arvind Kejriwal holds rally in Haryana; here's what the AAP chief promised