Centre Govt releases 2 installments worth Rs 1.16 lakh cr of tax devolution to states

Centre Govt releases 2 installments worth Rs 1.16 lakh cr of tax devolution to states

Reetu | Aug 10, 2022 |

Centre Govt releases 2 installments worth Rs 1.16 lakh cr of tax devolution to states

Centre Govt releases 2 installments worth Rs 1.16 lakh cr of tax devolution to states

The Union Government has released two installments of tax devolution to State Governments amounting to Rs. 1,16,665.75 crore on 10th August 2022, as against the normal monthly devolution of Rs..58,332.86 crores.

This is consistent with the Indian government’s goal to giving States more power to increase their capital and development spending.

The table below provides a State-wise breakup of the amounts released:

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

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Reetu
Name: Reetu
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Location: Delhi, India
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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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