The central government has authorised the release of an additional instalment of tax devolution amounting to Rs 72,961 crore to state governments for financing various social welfare measures and infrastructure development schemes.
Accusing Congress of practising "appeasement politics," Home Minister Amit Shah on Monday said that the ruling BJP has worked for all-round development of Karnataka and that the Modi government gave 140 per cent more money to the state in five years in terms of tax devolution and grant-in
According to the finance ministry, this is in line with the commitment of the government of India to strengthen the hands of states to accelerate their capital and developmental expenditure.
New Delhi [India], August 10 (ANI): The central government on Wednesday released two instalments of tax devolution to states amounting to Rs 1,16,665.75 crore as against the normal monthly devolution of Rs.58,332.86 crore, the Ministry of Finance said.
New Delhi [India], January 20 (ANI): Union Finance Minister Nirmala Sitharaman has authorised the release of an advance instalment of tax devolution to State Governments amounting to Rs 47,541 crore, the Finance Ministry said on Thursday.
New Delhi [India], Sep 10 (ANI): States may have to significantly cut their expenditure by as much as Rs 3.4 lakh crore in the current fiscal if they are not paid full compensation relating to Goods and Services Tax (GST), investment information agency ICRA has said.