Ministry of Finance releases ₹45,000 crore as additional devolution to States in FY 2020-21

Ministry of Finance releases ₹45,000 crore as additional devolution to States in FY 2020-21

Reetu | Apr 1, 2021 |

Ministry of Finance releases ₹45,000 crore as additional devolution to States in FY 2020-21

Ministry of Finance releases ₹45,000 crore as additional devolution to States in FY 2020-21

Ministry of Finance

01st APR 2021

The Ministry of Finance, Government of India, released ₹45,000 crore as additional devolution to States in FY 2020-21. This is an increase of 8.2% over RE 2020-21. As per RE 2020-21, ₹5,49,959 crore, being 41% of the shareable pool of taxes and duties were estimated to be released to the States. However, Ministry of Finance has devolved an amount of ₹5,94,996 crore, based on the initial estimates of shareable pool that would be collected in 2020-21.

The Ministry of Finance has released these amounts to share the revenue buoyancy seen in Q4 2020-21 and in the true spirit of fiscal federalism. The additional amount of ₹45,000 crore was released in two instalments of ₹14,500 crore and ₹30,500 crore. ₹14,500 crore was released along with the 14th regular instalment of devolution on 26th March 2021, whereas the second instalment of ₹30,500 crore was released to the States on 31st March 2021.

S. NoStateRE 2020-21Additional over RE 2020-21Overall releases in FY 2020-21
1Andhra Pradesh22611185024461
2Arunachal Pradesh968179210473
3Assam17220140918629
4Bihar55334452759861
5Chhattisgarh18799153820338
6Goa21231742296
7Gujarat18689152920219
8Haryana59514876438
9Himachal Pradesh43943604754
10Jharkhand18221149119712
11Karnataka20053164121694
12Kerala1068687411560
13Madhya Pradesh43373354946922
14Maharashtra33743276136504
15Manipur39493234272
16Meghalaya42073444552
17Mizoram27832283011
18Nagaland31512583409
19Odisha25460208327543
20Punjab983480510638
21Rajasthan32885269035576
22Sikkim21341752308
23Tamil Nadu23039188524924
24Telangana1173296012692
25Tripura38993194218
26Uttar Pradesh9861880691,06,687
27Uttarakhand60724976569
28West Bengal41353338444737
TOTAL 5,49,997450005,94,996

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