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Central Government releases ₹1,18,280 crore as 3rd instalment of tax devolution to State Governments as against normal monthly devolution of ₹59,140 crore The Union Government has released 3rdinstalment of tax devolution to State Governments amounting to ₹1,18,280 crore on 12thJune, 2023, as against normal monthly devolution of ₹59,140 crore. One advance instalment in addition to the regular instalment due in June 2023 is being released to States to enable them to speed up capital spending
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FAQ :
The Central Government has released ₹1,18,280 crore as the third instalment of tax devolution to State Governments.
No, this instalment is an advance one, released in addition to the regular instalment due in June 2023. The amount released is double the normal monthly devolution.
The advance instalment is intended to enable states to speed up capital spending, finance development and welfare expenditures, and make resources available for priority projects and schemes.
This instalment was released on 12th June 2023.
The normal monthly tax devolution amount is ₹59,140 crore.
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