Two tax devolution installments worth Rs 1.16 lakh crore cleared



Quick Summary
The Union Government has disbursed two instalments of tax devolution to state governments, amounting to a substantial £1.16 lakh crore. This release is double the usual monthly amount and is intended to empower states to accelerate their capital and developmental expenditures. The funds are distributed based on the net proceeds of Union taxes and duties.

Two instalments of tax devolution to State Governments amounting to Rs. 1,16,665 crore Released today

This in line with the commitment of Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure

The Union Government has released two instalments of tax devolution to State Governments amounting to Rs. 1,16,665 crore today, as against normal monthly devolution of Rs..58,333  crore.

This is in line with the commitment of Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure.

£1.16 Lakh Crore Tax Devolution Released to States

State-wise breakup of amounts released is given below in the table:

State-wise distribution of Net Proceeds of Union Taxes and Duties for November 2022

Sl. No

Name of State

Total (Rs. Crore)

1

ANDHRA PRADESH

4721

2

ARUNACHAL PRADESH

2050

3

ASSAM

3649

4

BIHAR

11734

5

CHHATTISGARH

3975

6

GOA

450

7

GUJARAT

4058

8

HARYANA

1275

9

HIMACHAL PRADESH

968

10

JHARKHAND

3858

11

KARNATAKA

4255

12

KERALA

2246

13

MADHYA PRADESH

9158

14

MAHARASHTRA

7370

15

MANIPUR

835

16

MEGHALAYA

895

17

MIZORAM

583

18

NAGALAND

664

19

ODISHA

5283

20

PUNJAB

2108

21

RAJASTHAN

7030

22

SIKKIM

453

23

TAMIL NADU

4759

24

TELANGANA

2452

25

TRIPURA

826

26

UTTAR PRADESH

20929

27

UTTARAKHAND

1304

28

WEST BENGAL

8777

Grand Total

116665

FAQ :

Two instalments of tax devolution totalling £1,16,665 crore have been released to state governments.

The release is intended to strengthen the hands of states and accelerate their capital and developmental expenditure.

No, this release is double the normal monthly devolution amount of £58,333 crore.

All states received funds, with amounts varying based on the net proceeds of Union taxes and duties. For example, Uttar Pradesh received £20,929 crore, while Goa received £450 crore.

The grand total released across all states is £1,16,665 crore.




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