Centre releases Rs 1,014 tax devolution to Nagaland

DIMAPUR, OCTOBER 10: The Union Government on Thursday released tax devolution of Rs 1,014 crore to Nagaland, which includes one advance installment, in addition to the regular installment due in October, 2024.

According to the Ministry of Finance, this release is in view of the upcoming festive season and to enable the State to accelerate capital spending, and also finance their development/ welfare related expenditure.

Among the Northeastern beneficiaries, Assam emerged at the forefront, followed closely by Arunachal Pradesh, which received Rs 3,131 crore. Other States in the region also saw notable allocations: Meghalaya (Rs 1,367 crore), Manipur (Rs 1,276 crore), Tripura (Rs 1,261 crore), Nagaland (Rs 1,014 crore), and Mizoram (Rs 891 crore).

While a large amount is being sent to Northeastern States, state-wise analysis of the bigger picture shows Uttar Pradesh at the forefront with Rs 31,962 crore and Bihar at Rs 17,921 crore.

Tax devolution will help State Governments initiate developmental projects and policies for those States that are at a critical level of infrastructure development.

(Page News Service)