&w=3840&q=100)
Govt approves ₹81,735 crore additional tax devolution to states
The government has approved an additional instalment of Rs 81,735 crore as tax devolution to the state governments, which will be released on 2 June 2025, a finance ministry statement said on Friday. This release is in addition to the regular monthly instalment of tax devolution of Rs 81,735 crore, which is scheduled for release on 10 June 2025.
The finance ministry said that the additional instalment of devolution will enable the states to accelerate their capital spending, finance development and welfare-related expenditure, and make available resources for priority projects and schemes of the states.
'The additional instalment of devolution to states is in line with the principle of cooperative federalism and the aim of becoming 'Viksit Bharat' by 2047, which can be realised through 'Viksit States' as envisioned by Hon'ble Prime Minister Shri @narendramodi,' the finance ministry said in a post on the social media platform X.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
30 minutes ago
- Hans India
Resilience must be anchored in foundations of development, says PM Modi's Principal Secretary
Nice (France): Welcoming African Union as a new member of the New Delhi-headquartered Conference on Disaster Resilient Infrastructure (CDRI), P.K. Mishra, Principal Secretary to Prime Minister Narendra Modi, on Saturday said that resilience must be anchored in the very foundations of development. As the Co-Chair of the CDRI, Mishra, in his address to member countries and organisations at the Seventh International Conference on Disaster Resilient Infrastructure (CDRI) on the sidelines of the third UN Ocean Conference in Nice announced the African Union Commission is the newest member of the coalition. He appreciated how 54 members have so far joined the CDRI and are bound by a common belief that resilience must be 'embedded in the very foundations of development'. Earlier this week, the African Union Commission hosted the regional consultation on the Africa common position for disaster risk reduction in Geneva in Switzerland. Organised on the sidelines of the Global Platform 2025 for disaster risk reduction, the event brought together high-level delegations from African Union member states, regional economic communities and key development partners in a collaborative effort to refine and strengthen Africa's stance ahead of the Global Platform for disaster risk reduction high-level segment. The CDRI is a global coalition dedicated to enhancing the resilience of infrastructure systems to climate and disaster risks. With 46 member countries and eight partner organisations, it includes national governments, international organisations, and businesses collaborating to share knowledge, conduct research, and invest in disaster-resilient infrastructure. Members benefit from access to global expertise, funding, technical support, research opportunities, innovative solutions, and international best practices. Speaking on the occasion, CDRI Director General Amit Prothi said: 'Coastal resilience is vital for protecting lives and economies. ICDRI 2025 unites global voices to inform action for vulnerable coastal communities and Small Island Developing States (SIDS). Through our IRIS programme, we are supporting 24 projects across 25 SIDS, driving sustainable and inclusive infrastructure development." He said at the ICDRI, the 54-member global coalition has reaffirmed its commitment to advancing climate and disaster resilient infrastructure across Africa. Other announcements include the awarding of research grants for 53 projects spanning 21 countries, as well as a call to action for accelerating infrastructure resilience in small island nations, emphasising the urgent need for global collaboration and investment. With approximately 37 per cent of the global population residing within 100 km of the coast, contributing around $1.5 trillion to the annual global GDP, and 90 per cent of global goods transported by sea, strengthening coastal resilience is now a global priority.
Time of India
35 minutes ago
- Time of India
Shah to visit state after PM's prog in Siwan on June 20
Patna: Union home minister Amit Shah's Araria visit on June 15 has been postponed, said BJP state president Dilip Kumar Jaiswal on Saturday. Shah will now come to Bihar after PM Narendra Modi's Siwan visit on June 20, he said. PM Modi will address a public meeting in Pachrukhi block of Siwan district, where he is supposed to transfer a total of Rs1,011 crore in the bank accounts of more than 1 lakh beneficiaries of Bihar as the first instalment under the Pradhan Mantri Urban Housing Scheme. The PM is also likely to lay the foundation stone and inaugurate the project related to sewage treatment plants in 22 cities of Bihar. Apart from this, the foundation stone for the water supply project will also be laid in 13 cities. The cost of the entire project is more than Rs 7,170 crore.
News18
42 minutes ago
- News18
G Square Group acquires 714-acre project in Coimbatore for Rs 707 cr
New Delhi, Jun 7 (PTI) Realty firm G Square Group has acquired 714-acre project from Rakindo in Coimbatore for Rs 707 crore and will develop it as an integrated township. In a statement on Saturday, the company announced launch of 'G Square Seven Hill', a township project that combines plots and mixed-use development. 'The acquisition of the 714-acre project from Rakindo for Rs 707 crore, marked the latest in a series of major investments transforming Coimbatore into a premier real estate destination," it said. The Kovai Hills project, now rebranded as G Square Seven Hills, spans 714 acres with Phase 1 covering 406 acres and featuring 3,127 premium plots. The remaining 308 acres are designated for joint ventures with signature villa and apartment developers, built-to-suit IT infrastructure projects, including commercial leasing and business parks, malls, and multiplexes. Bala Ramajeyam, Founder and Managing Director of G Square Group, said this township project 'demonstrates our commitment to unlocking growth and development in a city with immense potential and strong demand for plots" 'G Square is also open to larger JV partners to participate in developing commercial and residential developments within this 714-acre township," he added. G Square is one of the leading developers in south India. PTI MJH TRB
