Reetu | Jun 12, 2023 |

Central Government releases Rs.1,18,280 crore as 3rd Instalment of Tax Devolution to State Governments

The Union Government has released 3rd instalment of tax devolution to State Governments amounting to Rs.1,18,280 crore on 12th June, 2023, as against normal monthly devolution of Rs.59,140 crore.

States will receive one advance instalment in addition to the usual payment due in June 2023, allowing them to accelerate capital expenditures, fund development/welfare-related expenditure, and make resources available for priority projects/schemes.

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

State-wise distribution of Net Proceeds of Union Taxes and Duties for June 2023

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Tags: Central Government, Finance, News, State Government, Tax Devolution

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Name: Reetu

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Reetu is a Content Writer with 3+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM(Honrs.) Graduate.

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