PANAJI: Center released Rs 281.63 crore for Goa as additional installment of tax devolution.
In view of the forthcoming festivities and the New Year, the Union Government has authorised the release of an additional installment of tax devolution amounting to Rs 72,961.21 crore to all the states for financing various social welfare measures and infrastructure development schemes.
This installment is in addition to the tax devolution installment due to States on 10 January 2024 and the installment of Rs 72,961.21 crore already released on 11 December 2023.
The ministry said that the money has been released for financing social welfare measures and infrastructure development, in view of the forthcoming festivities and the New Year.
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By norm, money from the divisible tax pool is devolved to states in 14 annual installments: 11 in 11 months and three in March. The latest installment is in addition to the regular devolution to states.
The ministry said the latest installment is in addition to the tax devolution due to states on January 10, 2023 and the Rs 72,961.21 crore released on December 11 this year.
The highest installment of Rs 13088.51 crore has been given to Uttar Pradesh, followed by Bihar (Rs 7,338 crore) and West Bengal (Rs 5488.88 crore).
The states to receive the smallest devolution include Goa and Sikkim, Rs 281 and 283 crore.