CA Loan Bajaj Finserv

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The Ministry of Finance, Government of India, released ₹45,000 crore as additional devolution to States in FY 2020-21. This is an increase of 8.2% over RE 2020-21. As per RE 2020-21, ₹5,49,959  crore, being 41% of the shareable pool of taxes and duties were estimated to be released to the States. However, Ministry of Finance has devolved an amount of ₹5,94,996 crore, based on the initial estimates of shareable pool that would be collected in 2020-21.

The Ministry of Finance has released these amounts to share the revenue buoyancy seen in Q4 2020-21 and in the true spirit of fiscal federalism.  The additional amount of ₹45,000 crore was released in two instalments of ₹14,500 crore and ₹30,500 crore. ₹14,500 crore was released along with the 14th regular instalment of devolution on 26th March 2021, whereas the second instalment of ₹30,500 crore was released to the States on 31st March 2021.

 

Sl. No

State

RE 2020-21

Additional over RE 2020-21

Overall releases in FY 2020-21

1

Andhra Pradesh

22,611

1,850

24,461

2

Arunachal Pradesh

9,681

792

10,473

3

Assam

17,220

1,409

18,629

4

Bihar

55,334

4,527

59,861

5

Chhattisgarh

18,799

1,538

20,338

6

Goa

2,123

174

2,296

7

Gujarat

18,689

1,529

20,219

8

Haryana

5,951

487

6,438

9

Himachal Pradesh

4,394

360

4,754

10

Jharkhand

18,221

1,491

19,712

11

Karnataka

20,053

1,641

21,694

12

Kerala

10,686

874

11,560

13

Madhya Pradesh

43,373

3,549

46,922

14

Maharashtra

33,743

2,761

36,504

15

Manipur

3,949

323

4,272

16

Meghalaya

4,207

344

4,552

17

Mizoram

2,783

228

3,011

18

Nagaland

3,151

258

3,409

19

Odisha

25,460

2,083

27,543

20

Punjab

9,834

805

10,638

21

Rajasthan

32,885

2,690

35,576

22

Sikkim

2,134

175

2,308

23

Tamil Nadu

23,039

1,885

24,924

24

Telangana

11,732

960

12,692

25

Tripura

3,899

319

4,218

26

Uttar Pradesh

98,618

8,069

1,06,687

27

Uttarakhand

6,072

497

6,569

28

West Bengal

41,353

3,384

44,737

 

TOTAL 

5,49,997

45,000

5,94,996

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