Question
The Central government has released the third
installment of tax devolution to state governments, amounting to a total of ā¹1,18,280 crore in June 2023.Which state has got the highest allocation?ĀSolution
The Central government has released the third instalment of tax devolution to state governments, amounting to a total of ā¹1,18,280 crore.This amount released surpasses the normal monthly devolution of ā¹59,140 crore, reflecting the governmentās commitment to supporting the fiscal needs of the states.The additional advance instalment provided to the states aims to facilitate and expedite capital spending, finance development and welfare-related expenditures, and ensure the availability of resources for priority projects and schemes.Andhra Pradesh, the southern state, received ā¹4,787 crore, while Arunachal Pradesh, located in the northeastern region, received ā¹2,078 crore. Assam, Bihar, Chhattisgarh, and Gujarat were allocated ā¹3,700 crore, ā¹11,897 crore, ā¹4,030 crore, and ā¹4,114 crore, respectively.
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