Union Government Releases Tax Devolution of ₹1,78,173 Crore to State Governments

By: Admin
October 10, 2024
Categories: Press Release
4 Min Read

The Union Government has released a tax devolution of ₹1,78,173 crore to State Governments on October 10, 2024. This amount includes one advance instalment of ₹89,086.50 crore, in addition to the regular instalment due for October 2024.

This accelerated release comes in anticipation of the upcoming festive season. It aims to empower States to enhance their capital spending and finance their development and welfare-related expenditures. By ensuring timely access to funds, the government seeks to support the States in their initiatives for economic growth and welfare improvement.

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