Centre approves additional instalment of ₹81,735 crore as tax devolution to states
New Delhi: The Centre on Friday cleared an additional instalment of ₹ 81,735 crore as tax devolution to state governments, the ministry of finance said on Friday.
The amount will be released on 2 June, over and above the regular monthly instalment of ₹ 81,735 crore due on 10 June.
The move underscores the Centre's commitment to cooperative federalism and supports the vision of a 'Viksit Bharat' (developed India) by 2047, according to the ministry.
This goal, as laid out by Prime Minister Narendra Modi, hinges on building strong, self-reliant states.
The additional funds will enable states to accelerate capital spending, finance key development and welfare programmes, and allocate resources to high-priority projects, the ministry said.
By advancing this supplementary devolution, the Centre seeks to strengthen the fiscal capacity of states at a crucial juncture of economic growth and infrastructure push, it added.
With a combined outlay of over ₹ 1.63 trillion in June alone, this twin release marks a significant step in enhancing state-level public investment and ensuring timely delivery of government schemes.
The Indian government's vision of Viksit Bharat by 2047 aims to build a strong, inclusive, and sustainable economy by the nation's centenary of independence.
It focuses on high-quality growth, world-class infrastructure, empowered states, and social equity. With an emphasis on innovation, green development, and institutional reform, the goal is to transform India into a globally competitive and resilient nation.
India's GDP grew 6.5% in FY25, supported by a strong 7.4% expansion in the January–March quarter, provisional data released Friday by the ministry of statistics and programme implementation showed.
Both figures mark a moderation from the previous year. FY24's Q4 growth stood at 7.8%, while the full-year growth was revised to 9.2%.
Despite global headwinds, the economy was buoyed by robust performance across key sectors—agriculture, manufacturing, construction, mining, and services—all of which posted higher output in FY25 compared to the previous year.
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