Centre okays additional instalment of Rs 81,735 crore as tax devolution to the state govts
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The Centre on Friday said that it has approved an additional instalment of Rs 81,735 crore as tax devolution to the state governments, which will be released on June 2, 2025."The additional instalment of devolution to States is in line with the principle of co-operative federalism and the aim of becoming 'Viksit Bharat' by 2047, which can be realized through 'Viksit States' as envisioned by Hon'ble Prime Minister Shri @narendramodi," said the Finance Minister in its statement.The Finance Ministry added that the additional instalment of devolution will enable the States to speed up their capital spending, finance their development and welfare-related expenditure and also make available resources for priority projects/schemes of the States.
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