Goemkarponn desk
PANAJI: On the first day of Modi 3.0, Goa has something to cheer about.
The central government has released Rs 539.42 cr as an instalment of tax devolution.
Chief Minister Dr Pramod Sawant thanked Prime Minister Modi for the release of funds.
“I thank the Union Govt under the leadership of Hon’ble PM Shri @narendramodi Ji, for releasing the instalment of Tax devolution of Rs.539.42 Crore for Goa. This will enhance the Govt of Goa’s ability to serve the people of Goa with infrastructure development as well as social welfare initiatives in the state,” he said.
The Centre on Monday authorised the release of tax devolution of Rs 1.39 trillion to states for June.
It was decided that apart from the regular release of the devolution amount for the month of June 2024, one additional instalment will be released, the Finance Ministry said in a statement.
“This cumulatively amounts to Rs 1,39,750 crore in the current month. This will enable State Governments to accelerate development and capital spending,” it added.
Currently, 41 per cent of taxes collected by the Centre is devolved in 14 instalments among states during a fiscal year.
The Interim Budget 2024-25 has a provision of Rs 12,19,783 crore towards the devolution of taxes to states.
With this release, the total amount devolved (for FY 2024-25) to states till June 10, 2024, is Rs 2,79,500 crore, it added.
