Tax devolution: Kerala gets ₹3,430 crore

The Union government has released ₹3,430 crore to Kerala as tax devolution. The Centre had released tax devolution of ₹1,78,173 crore to State governments, consisting of the regular instalment due in October and one advance instalment. According to the Finance Ministry, the money has been released in view of the festive season and to “enable States to accelerate capital spending, and also finance their development/ welfare related expenditure.” Among the states, Uttar Pradesh has received the highest (₹31,962 crore), followed by Bihar (₹17,921 crore).

Published - October 10, 2024 11:20 pm IST