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Finance Minister Smt. Nirmala Sitharaman authorises release of advance installment of tax devolution to State Governments amounting to Rs. 47,541 crore States receive a total of Rs. 95,082 crore during January 2022 With release of the 2nd advance installment, States receive an additional amoun
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FAQ :
An advance installment of £47,541 crore has been authorised for release to State Governments.
States will receive a total of £95,082 crore in January 2022, which is double their regular entitlement for the month.
No, this is the second advance installment. The first was released on 22nd November 2021, also amounting to £47,541 crore.
With this second advance installment, states have received an additional £90,082 crore under tax devolution over and above what was budgeted until January 2022.
The release is in line with the Government of India's commitment to strengthen states' hands to accelerate capital and developmental expenditure, particularly to mitigate the effects of the COVID-19 pandemic.
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