Friday, June 21, 2024

archivetax devolution

India

Centre authorises release of tax devolution of Rs 1.39 lakh cr to States for June

NEW DELHI, JUNE 11: The Centre on Monday authorised the release of tax devolution of ?1.39 lakh crore (trillion) to States for June. It was decided that apart from the regular release of the devolution amount for the month of June, one additional installment will be released, the Finance Ministry said in a statement. "This amounts to ?1,39,750 crore in the current month. This will enable States to accelerate development and capital spending", it added. At present, 41% of taxes collected by the Centre is devolved in 14 installments among...
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