Centre doubles November tax devolution amount for states
Millennium Post Delhi|November 16, 2021
The Centre will release Rs 95,082 crore as tax devolution to the states this month after including one advance instalment to help them push their capital expenditure, Finance Minister Nirmala Sitharaman said on Monday.
Centre doubles November tax devolution amount for states

NEW DELHI:

After a meeting with all chief ministers and state finance ministers, Sitharaman said states had said that it would be helpful for them if the tax devolution is front loaded.

I have suggested the Finance Secretary that on November 22 instead of normal Rs 47,541 crore, the states be given one more instalment. So Rs 95,082 crore will be given to states on November 22, Sitharaman told reporters here.

So, with this, states will have more money in their hands so that they can consider spending it for infrastructure creation, she added.

This story is from the November 16, 2021 edition of Millennium Post Delhi.

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This story is from the November 16, 2021 edition of Millennium Post Delhi.

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